Contracts
When a New York seller accepts a backup offer while already under contract with a primary buyer, this is:
AIllegal under New York law
BPermissible as long as both buyers are fully informed✓ Correct
COnly allowed for commercial properties
DA breach of the primary contract
Explanation
Backup offers are permissible in New York as long as both the primary buyer and backup buyer are fully informed of the situation. The backup offer only becomes operative if the primary contract falls through.
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