Contracts
In South Carolina, what is the effect of 'merger' at closing on the purchase contract?
AThe contract continues to govern all disputes after closing
BMost contract provisions are extinguished and the deed becomes the controlling document✓ Correct
CThe contract merges with the deed of trust
DThe parties become co-owners until all warranties are discharged
Explanation
The merger doctrine holds that upon delivery and acceptance of the deed at closing, most purchase contract provisions are merged into and superseded by the deed. Warranties that survive closing are exceptions.
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