Contracts
A buyer's offer is accepted and they have a signed purchase agreement. Before closing, the seller refuses to proceed. What remedy may be available to the buyer?
AThe buyer may only recover the earnest money
BThe buyer may sue for specific performance to compel the sale✓ Correct
CThe buyer must accept a replacement property
DThe buyer has no legal recourse after 30 days
Explanation
Specific performance is a legal remedy available in real estate contracts that allows the non-breaching party to compel the breaching party to fulfill the contract terms, since real property is considered unique.
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