Contracts
A Missouri purchase contract contains an escalation clause that says the buyer will pay $2,000 more than any competing bona fide offer up to $350,000. A competing offer of $330,000 exists. What does the buyer pay?
A$330,000
B$332,000✓ Correct
C$350,000
D$348,000
Explanation
The escalation clause adds $2,000 to the competing offer: $330,000 + $2,000 = $332,000. The buyer pays $332,000, which is below the $350,000 cap.
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