On April 10,Mel Entered into a Contract to Sell His

question 85

Essay

On April 10,Mel entered into a contract to sell his house to Nan at a price of $300 000.Title was to transfer May 31.Nan paid Mel a deposit of $20 000.A clause in the contract between them said: "If the buyer does not complete as specified,the seller can elect to keep the deposit as liquidated damages." On April 30,Nan told Mel she could not complete the contract because she could not sell her own house.Mel immediately entered into a contract to sell his house to Paul for $320 000.Nan insists that Mel return her deposit because he has suffered no damages.Will a court order Mel to return her deposit?

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Definitions:

High Correlations

This pertains to a significant relationship between two variables indicating that as one variable changes, the other does too, either in the same (positive correlation) or in the opposite direction (negative correlation).

Subtests

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Response Summary

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Holland Codes

A theory of careers and vocational choice based upon personality types, formulated by psychologist John L. Holland.