In What Ways May a Seller Default,and What Remedies Are

question 52

Essay

In what ways may a seller default,and what remedies are available to the buyer in such a case?

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Definitions:

Simple Delivery Contract

A basic agreement where the delivery of a good or service completes the transaction without the need for further obligations from either party.

Possession

The state of having control over something or someone, legally indicating ownership or the right to use.

Conditional Sales Contract

A type of contract in which the sale itself is contingent on approval; can be either a sale-on-approval contract or a sale-or-return contract.

Certified Appraiser

A professional designation for an individual qualified to assess the value of real property and personal property.