Contracts
The 'attorney review' or 'attorney approval' contingency commonly included in New York residential contracts allows:
AEither party's attorney to cancel the contract for any reason within a specified period (typically 3–5 business days)✓ Correct
BThe title company to review and approve the contract terms
CThe DOS to approve the contract before it is binding
DThe lender's attorney to modify the purchase price
Explanation
While New York attorneys typically draft the contract from scratch (making an attorney review contingency less standard than in some other states), many contracts do include an attorney approval period during which either party's attorney may cancel or modify the contract. This typically runs 3–5 business days from signing.
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