Contracts
A Wyoming buyer who has signed a purchase agreement and all contingencies have been removed but refuses to close is:
AEntitled to receive their earnest money back
BIn default of the contract and may lose the earnest money and face other legal remedies✓ Correct
CPermitted to withdraw if more than 10 days remain until closing
DProtected by the three-day right of rescission
Explanation
Once all contingencies are removed, the purchase contract is a firm, binding agreement. A buyer who refuses to close without cause is in default and may forfeit the earnest money (if the contract has a liquidated damages clause) and potentially face a specific performance lawsuit.
Related Wyoming Contracts Questions
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