Contracts
In Ohio, which of the following is true about a 'backup offer'?
AA backup offer is automatically binding on the seller
BA backup offer becomes the primary contract if the first contract falls through✓ Correct
CBackup offers are illegal under ORC 4735
DA backup offer must be at a higher price than the primary offer
Explanation
A backup offer, if accepted by the seller as a backup position, becomes the primary contract automatically if the first accepted offer falls through according to its terms.
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