Contracts
In Wyoming, a buyer who makes an earnest money deposit has which of the following rights if they qualify under the financing contingency but simply don't want to proceed?
AThe right to cancel and recover their earnest money
BNo right to cancel without forfeiting the earnest money, if there is no applicable contingency✓ Correct
CThe right to cancel within 72 hours under Wyoming's cooling-off period
DThe right to assign the contract to another buyer
Explanation
If a buyer has no applicable contingency that covers their desire to walk away, they cannot cancel without breaching the contract. The seller may retain the earnest money as liquidated damages for the breach.
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