Contracts
A Connecticut seller accepts a buyer's offer. Two days later, the seller receives a higher offer. Under Connecticut contract law, the seller:
AMay accept the higher offer since no deed has passed
BMay accept the higher offer since it is better for the seller financially
CIs bound by the first accepted contract and cannot accept the second offer without breaching the first contract✓ Correct
DMay accept the second offer if the listing agent recommends it
Explanation
Once a seller has accepted an offer and a binding contract is formed, the seller is legally obligated to complete the transaction with that buyer. Accepting a second offer would be a breach of the first contract, exposing the seller to liability.
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