Contracts
A buyer and seller in Mississippi enter a purchase agreement. The buyer later discovers the property is in a flood zone not disclosed by the seller. The buyer may:
AOnly request a price reduction
BSeek rescission of the contract based on material misrepresentation✓ Correct
CDemand the seller purchase flood insurance
DOnly proceed with the purchase as disclosed
Explanation
Failure to disclose a material fact like flood zone status may constitute misrepresentation, entitling the buyer to rescind the contract and recover damages.
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