Contracts
In Tennessee, a seller who accepts a buyer's offer and then refuses to close is most likely liable for:
AOnly forfeiting the earnest money
BBreach of contract, which may result in specific performance or damages✓ Correct
CCriminal fraud charges
DNothing, because real estate contracts are unenforceable
Explanation
A seller who breaches a purchase agreement may be sued for specific performance (forcing the sale) or money damages. Tennessee courts can order specific performance for real estate contracts.
Related Tennessee Contracts Questions
- A buyer who makes an offer that is accepted signs a contract with an appraisal contingency. The property appraises below the purchase price. The buyer's options typically include:
- The Tennessee Real Estate Commission's approved contract forms are:
- A void contract is one that is:
- When a purchase contract requires the buyer to notify the seller in writing that an inspection contingency has been satisfied, and the buyer fails to do so, the contingency is typically:
- Under Tennessee law, a real estate listing agreement that does not specify an expiration date is:
- In a Tennessee real estate contract, 'mutual assent' refers to:
- The doctrine of part performance can make an otherwise unenforceable oral real estate contract enforceable in equity when:
- A Tennessee real estate contract has a 'dispute resolution' clause requiring mediation before litigation. This clause is:
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