Contracts
An 'earnest money' deposit in a Missouri contract serves as:
AFull payment for the property
BEvidence of the buyer's good faith and consideration for the contract✓ Correct
CThe broker's commission deposit
DA non-refundable deposit in all circumstances
Explanation
Earnest money serves as evidence of the buyer's good faith and provides consideration to make the contract binding. Its refundability depends on the terms of the contract and applicable contingencies.
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