If a contingency is not fulfilled despite a good faith effort to fulfill it


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 B
Answers: a.
Terminate the agreement and have the good faith
deposit returned
b.
Remove the contingency and continue with the
agreement
c.
Sue the other party for a breach of contract
d.
Either A or B
 Question 2
1 out of 1 points
Which party to a purchase agreement usually benefits from a contingency?
 Question 3
1 out of 1 points
A 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 4
1 out of 1 points
A certain contingency benefits both the buyer and the seller. Whose consent
is needed to remove this contingency?
 Question 5
1 out of 1 points
Which 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 party
Answers: a.
The deadline by which point the condition must be met or
removed
b.
The rights of the parties if the condition isn't met or removed
by the deadline
c.
A clear description of how the condition can be met
d.
The damages that the party unable to fulfill the contingency
will pay the other party