Contracts
In Rhode Island, what is 'anticipatory repudiation' of a real estate contract?
AThe buyer making a lower offer than anticipated
BA clear statement by one party before the performance date that they will not perform their contractual obligations✓ Correct
CA seller removing a property from the market before closing
DThe failure to record a deed before closing
Explanation
Anticipatory repudiation occurs when one party clearly declares (before performance is due) that they will not fulfill their contractual obligations. The non-breaching party may then treat the contract as breached and pursue remedies immediately.
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