Contracts
A buyer and seller in North Carolina have signed a contract, but closing is delayed because the seller cannot produce clear title. This is an example of:
ABuyer default
BSeller default✓ Correct
CMutual rescission
DAccord and satisfaction
Explanation
When a seller cannot deliver marketable title as required by the contract, it constitutes seller default, entitling the buyer to remedies such as termination and return of deposits.
Related North Carolina Contracts Questions
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