Contracts
A 'bump clause' (kick-out clause) in a Utah purchase contract allows:
AThe buyer to cancel without reason during due diligence
BThe seller to accept a better offer and give the original buyer a period to waive contingencies or lose the deal✓ Correct
CThe lender to increase the interest rate after acceptance
DThe title company to 'bump' closing to a later date
Explanation
A kick-out (bump) clause allows a seller to continue marketing the property after accepting a contingent offer. If a better offer comes in, the seller can notify the original buyer, who then has a specified time to waive contingencies or cancel—allowing the seller to accept the new offer.
Related Utah Contracts Questions
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