Contracts
In New Jersey, if a buyer's attorney sends a disapproval letter during the attorney review period, the effect is:
AThe contract is voided and all deposits must be returned to the buyer✓ Correct
BOnly the specific clause objected to is voided
CThe seller can ignore the disapproval and enforce the original contract
DThe attorney review period is automatically extended by 3 more days
Explanation
A timely disapproval notice from either party's attorney during the 3-business-day NJ attorney review period voids the entire contract. Both parties are released, and the buyer's deposit must be returned.
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