Search results
Results From The WOW.Com Content Network
A clause in a purchase agreement that gives buyers and sellers the right to cancel a contract if certain terms aren’t met. For example, a mortgage contingency requires the buyer to secure a ...
When the offer (say, 8 dollars for the first party and 2 dollars for the second party) is accepted, the parties get the respective payments. When the offer is rejected, both parties get zero. Cooling-off periods can reduce the rejection rates of unfair offers when the parties perceive the stakes to be large. [6]
In the law of contracts, revocation is a type of remedy for buyers when the buyer accepts a nonconforming good from the seller. [1] Upon receiving the nonconforming good, the buyer may choose to accept it despite the nonconformity, reject it (although this may not be allowed under the perfect tender rule and whether the Seller still has time to cure), or revoke their acceptance.
For premium support please call: 800-290-4726 more ways to reach us
Day 2: A decides to revoke the offer and puts a letter in the mail to B revoking the offer. Day 3: B puts a letter accepting the offer in the mail. Day 4: B receives A's revocation letter. The letter of revocation can be effective only when received, that is Day 4. However, a contract was formed on Day 3 when the letter of acceptance was posted.
5 ways sellers can back out of a contract. Finding out the buyer failed to secure funding: If the buyer can’t get a mortgage, the seller is typically not required to continue the sale. You have ...
The percentage commission will be paid according to the accepted price. The seller, often in concurrence with the real estate agent, may choose to accept an offer that is lower than the highest offer for various reasons, such as terms or contingencies in the purchase contract offered or perceived differences in financial qualification of the ...
The information found on the license is collected into a database, and other stores operated by that particular retail company can use this information to deny a return. This system can be used to prevent various problems, such as return fraud.