Contracts
What happens to a Minnesota purchase agreement if the buyer does not receive the Seller's Property Disclosure before acceptance?
AThe sale proceeds without a disclosure
BThe buyer has the right to rescind the agreement within a specified period✓ Correct
CThe seller is fined by the Department of Commerce
DThe purchase price is automatically reduced
Explanation
If a Minnesota seller fails to provide the required disclosure before or at acceptance, the buyer has the right to rescind the purchase agreement within a specified rescission period after receiving the disclosure. This protects buyers from being bound without disclosure information.
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