Contracts
A Maine buyer and seller sign a purchase agreement for a property with a known roof leak. The seller has disclosed the issue and the buyer agrees to accept the property with the leak. The contract is:
AVoidable because of the known defect
BValid and enforceable as both parties entered with knowledge of the condition✓ Correct
CVoid because the seller failed to repair the defect
DUnenforceable unless the buyer gets a home inspection
Explanation
A contract where the seller discloses a known defect and the buyer acknowledges and accepts it is valid and enforceable. The disclosure and acceptance create an informed, arms-length transaction.
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