Contracts
In South Carolina, which clause in a purchase contract allows a buyer to withdraw if they cannot obtain financing?
AArbitration clause
BFinancing contingency clause✓ Correct
CLiquidated damages clause
DTime-is-of-the-essence clause
Explanation
A financing contingency clause (mortgage contingency) allows the buyer to withdraw from the contract and recover earnest money if they are unable to obtain the specified financing within the stated period.
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