Question

A buyer submitted an offer with a deposit on a property on June 1. The offer included the condition that it must be accepted within 48 hours. The sellers were out of town, however, and could not be contacted until June 6. At that point, the sellers eagerly signed and returned the purchase agreement; but now the buyer says he does not want the property any longer and is demanding the return of his deposit. A court would rule that:

Answer 1

Answer:

a. the deposit should be returned to the buyer

Explanation:

Based on the information that has been provided it can be said that the court would most likely rule that the deposit should be returned to the buyer . This is because is the contract includes a deadline and it passes, the offer is automatically terminated. Therefore, since this is the case in this situation the sellers' acceptance after the deadline would not be considered valid, and the buyer's deposit needs to be returned.