Contracts
Vermont's Consumer Protection Act can provide additional remedies in real estate fraud cases, including:
ACriminal prosecution by the seller
BTreble damages (triple damages) and attorney's fees for willful violations✓ Correct
CMandatory arbitration
DRescission only, with no monetary damages
Explanation
Vermont's Consumer Fraud Act (9 VSA Chapter 63) allows courts to award treble (triple) damages and attorney's fees for willful violations, providing a strong deterrent against deceptive practices in real estate.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Math Concepts
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