Contracts
A North Dakota purchase agreement states the buyer receives a 10-day inspection period. On day 8, the inspector finds a major defect and the buyer notifies the seller in writing on day 9. This notification is:
AToo late since it must be on day 1
BTimely, since it was made within the 10-day contingency period✓ Correct
CInvalid since it was not made the same day as the inspection
DValid only if the buyer also cancels the contract on day 8
Explanation
The buyer has until the end of the inspection period to exercise their rights under the inspection contingency. Written notification on day 9 of a 10-day period is timely.
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