Contracts
A North Dakota purchase agreement that lacks a definite closing date is:
AValid if the parties agree verbally on a date
BVoidable at either party's option
CInvalid as an essential term is missing
DValid because courts will imply a reasonable time✓ Correct
Explanation
If a contract lacks a specific closing date, courts will generally imply a reasonable time for performance. However, best practice in North Dakota is to specify the closing date to avoid disputes.
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