Contracts
In South Carolina, what does 'waiver' mean in a real estate contract?
AA signed document releasing all claims against the seller
BThe voluntary relinquishment of a known right or condition under the contract✓ Correct
CA modification that changes the contract terms
DA novation that replaces a party to the contract
Explanation
A waiver is the intentional relinquishment of a known right. In real estate, a buyer might waive an inspection contingency to make their offer more attractive. Once waived, the party generally cannot later assert that right.
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