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Buyer and seller enter into a clear contract. The buyer refuses to purchase for a reason not excused by a contingency. Which statement is correct?

Buyer and seller enter into a clear contract. The buyer refuses to purchase for a reason not excused by a contingency. Which statement is correct?

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question 3

Buyer and seller enter into a clear contract. The buyer refuses to purchase for a reason not excused by a contingency. Which statement is correct?

A - The seller is entitled to damages the buyer caused, which are taken from either the earnest money deposit or the 20% down payment.

B - The original buyer gets the earnest money deposit back as soon as there is a new offer.

C - The seller has the right to terminate the contract and keep the earnest money deposit.

D - The seller has the right to keep 20% of the down payment on property.

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