Contracts
A Missouri contingency clause in a purchase contract must typically:
ABe unlimited in duration
BSpecify the condition, deadline for fulfillment, and consequences if the condition is not met✓ Correct
CBe approved by MREC
DOnly address financing issues
Explanation
Well-drafted Missouri contingency clauses include: (1) the specific condition, (2) a deadline for satisfaction, and (3) the consequences if not satisfied (typically contract termination with return of earnest money). Vague contingencies can cause disputes.
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