Contracts
A Nebraska purchase agreement requires the buyer to provide evidence of financing approval within 14 days. On day 15, the buyer has not provided the evidence. The seller may:
AAutomatically void the contract
BWait indefinitely for the financing
CProvide written notice and potentially declare the buyer in default✓ Correct
DExtend the deadline automatically
Explanation
Missing a contractual deadline may constitute a default. The seller should provide written notice and follow the contract's default provisions. Many contracts have cure periods before the non-breaching party can declare a formal default.
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