Contracts
An Iowa purchase agreement closing date is described as 'on or before December 15.' This means:
AClosing must occur exactly on December 15
BClosing may occur any time up to and including December 15, at the convenience of the parties✓ Correct
CEither party may extend the closing to January 15 unilaterally
DThe contract expires if not closed by December 1
Explanation
'On or before' means closing may be completed at any time up through the specified date. Either party may choose an earlier closing date if both agree.
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