Contracts
A Massachusetts seller accepts a buyer's offer. Before the P&S is signed, the seller receives a higher offer and wants to back out. Generally:
AThe seller can always revoke acceptance before the P&S is signed
BOnce the Offer to Purchase is accepted and consideration exchanged (deposit), a binding contract exists and the seller cannot unilaterally revoke✓ Correct
CThe seller can revoke if the higher offer is 10% or more above the first offer
DThe seller can revoke with 24 hours' notice to the buyer
Explanation
In Massachusetts, the accepted Offer to Purchase is typically a binding contract. Once accepted with a deposit paid, the seller cannot simply revoke acceptance to accept a higher offer without breaching the contract.
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