Following Closing, Should a Third Party Show a Legal Right

question 7

True/False

Following closing, should a third party show a legal right to ownership over the purchaser, the purchaser's first recourse is to the vendor in damages.

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Definitions:

Payable

Referring to money that is owed by one party to another and should be paid according to terms specified in a contract or agreement.

Definite Time

A specific and set period or moment that is clearly defined or determined.

Negotiable Instruments

Financial documents, such as checks or promissory notes, that guarantee the payment of a specific amount of money either on demand or at a set time.

Reference

The act of mentioning or alluding to something, or a citation of a text, document, or legal case to support a statement or argument.