Contracts
In Iowa, a buyer who discovers fraud or misrepresentation AFTER closing may seek which of the following remedies?
AOnly a refund of the commission paid
BRescission of the contract and/or monetary damages✓ Correct
CA retroactive price reduction only
DNo remedy, as the transaction has closed
Explanation
A buyer who discovers fraud or misrepresentation after closing may seek rescission (to undo the transaction) and/or monetary damages. Fraud vitiates contracts and may provide remedies even after closing.
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