Contracts
Under South Dakota law, a fraudulent misrepresentation in a real estate contract may allow the injured party to:
AOnly report the agent to the SDREC
BRescind the contract, recover damages, and potentially seek punitive damages✓ Correct
COnly seek the difference between the stated and actual value
DContinue with the contract but negotiate a price reduction
Explanation
A party who has been defrauded in a South Dakota real estate contract can rescind the contract (return both parties to their original positions) and/or seek compensatory and potentially punitive damages.
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