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If a contingency is not fulfilled despite a good faith effort to fulfill it, what may the person who benefits from the contingency do?Selected Answer:d. Either A or BAnswers:a. Terminate the agreement and have the good faith deposit returnedb. Remove the contingency and continue with the agreementc. Sue the other party for a breach of contractd. Either A or BQuestion 21 out of 1 pointsWhich party to a purchase agreement usually benefits from a contingency?Question 31 out of 1 pointsA buyer and seller agree that the sale will be contingent on the buyer obtaining financing. The buyer later decides that she doesn't want the property, so she doesn't bother to fill out any loan applications. The contingency is dropped from the agreement because:
Question 41 out of 1 pointsA certain contingency benefits both the buyer and the seller. Whose consent is needed to remove this contingency?Question 51 out of 1 pointsWhich of the following is not a necessary element in a contingency?Selected Answer:d. The damages that the party unable to fulfill the contingency will pay the other partyAnswers:a. The deadline by which point the condition must be met or removedb. The rights of the parties if the condition isn't met or removed by the deadlinec. A clear description of how the condition can be metd. The damages that the party unable to fulfill the contingency will pay the other party