Contracts
An Arizona seller who accepts earnest money and then refuses to close may be required by a court to:
AOnly return the earnest money
BSpecifically perform the contract and convey the property✓ Correct
CPay a fine to the ADRE
DOnly pay liquidated damages equal to the earnest money
Explanation
Because real estate is considered unique, a buyer can seek specific performance—a court order requiring the seller to complete the sale. The court may also award damages, but specific performance is a remedy unique to real estate contracts.
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