Contracts (alternative)
A Maryland property seller accepts an offer and then receives a higher offer. The seller may:
AAccept the higher offer because it is better for them financially
BNot accept the higher offer—the original accepted contract is binding✓ Correct
CAccept both offers simultaneously
DPresent both offers to MREC for resolution
Explanation
Once a seller accepts an offer and communicates that acceptance, a binding contract is formed. The seller may not unilaterally breach by accepting a higher offer, or they will be liable for breach of contract.
Related Maryland Contracts (alternative) Questions
- Under Maryland contract law, 'mutual mistake' may allow a contract to be:
- In Maryland, the concept of 'anticipatory breach' occurs when:
- A Maryland installment land contract (land contract or contract for deed) differs from a standard sale because:
- A Maryland contract of sale contains a financing contingency with no specific deadline. This is:
- In Maryland, a seller who accepts a contingent offer but continues to receive offers keeps them as:
- A Maryland real estate purchase contract that becomes 'void' is:
- Maryland's Residential Property Disclaimer means the seller is stating:
- A Maryland purchase agreement includes an 'as-is' clause. This means the buyer:
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