Contracts
Under what circumstances may a buyer rescind (cancel) a contract in Oklahoma after all contingencies have been removed?
AIf the buyer simply changes their mind within 3 days
BIf the seller makes a material misrepresentation or conceals a known defect✓ Correct
CIf the listing agent fails to disclose agency
DIf interest rates increase after contract acceptance
Explanation
After contingencies are removed, a buyer may generally rescind a contract only if there has been fraud, material misrepresentation, or mutual mistake. A change of heart does not give the buyer a right to cancel without forfeiting the earnest money.
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