Contracts
A Nebraska seller who accepts a backup offer while the primary offer is still in force must:
AImmediately notify the first buyer that a backup offer has been accepted
BDisclose the backup offer's existence to the first buyer if their contract requires such disclosure✓ Correct
CCancel the first offer automatically
DSubmit both offers to NREC for approval
Explanation
Whether the seller must disclose a backup offer to the first buyer depends on the terms of the purchase agreement. Sellers should consult legal counsel on disclosure obligations when managing multiple contracts.
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