Contracts
In Louisiana, if a buyer defaults on a purchase agreement, the seller's typical remedy is:
AAutomatic rescission of the contract
BRetention of the earnest money or suit for specific performance✓ Correct
CTriple damages by statute
DForfeiture of all broker commissions
Explanation
When a buyer defaults in Louisiana, the seller may retain the earnest money as stipulated damages (if the contract so provides) or sue for specific performance to compel the buyer to complete the purchase.
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