Contracts
A buyer and seller have a fully executed purchase agreement. The seller receives a better offer and wants to cancel. The seller:
AMay cancel by returning the earnest money
BMay cancel if the new offer is 10% higher
CCannot cancel without the buyer's consent or a valid contingency✓ Correct
DMay cancel within three days under New Mexico law
Explanation
Once a contract is fully executed, the seller cannot unilaterally cancel it without the buyer's agreement or a valid contractual contingency. The buyer may seek specific performance.
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