Contracts
In Maine, if a purchase contract contains a 'liquidated damages' clause, in the event of buyer default the seller's remedy is typically:
AThe full purchase price
BThe earnest money deposit as specified in the contract✓ Correct
CAll repair costs plus earnest money
DThe seller may pursue unlimited damages
Explanation
A liquidated damages clause specifies in advance the damages amount (typically the earnest money deposit) that will be awarded if a party defaults. This limits the non-defaulting party's remedy to the specified amount.
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