Contracts
Under Iowa contract law, what is the doctrine of merger as applied to a real estate transaction?
AWhen two brokerages combine their business
BWhen the purchase agreement's provisions are merged into (superseded by) the deed at closing✓ Correct
CWhen a buyer and seller combine their offers into one contract
DWhen multiple properties are combined in a single sale
Explanation
The doctrine of merger holds that, upon closing, the purchase agreement merges into the deed. Most contract obligations (except collateral ones) are superseded by and merged into the deed at closing.
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