Contracts
In Kansas, a purchase agreement that is 'contingent upon satisfactory inspection' but does not define 'satisfactory' is:
AVoid for indefiniteness
BInterpreted based on a reasonable person standard — what a reasonable buyer would find satisfactory✓ Correct
CAutomatically waived if no inspector is hired within 24 hours
DOnly valid if KREC approves the inspection contingency language
Explanation
Courts generally interpret ambiguous terms in contracts based on what a reasonable person would understand them to mean — 'satisfactory inspection' would be measured against a reasonable buyer's standard.
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