36. What is the legal effect if only the seller or the buyer initials the liquidated damages" clause in the RPA (Section 21.B)? a. The mediation clause kicks in. b. The contract is still valid, if acknowledged/witnessed by a notary public. Completing counteroffers are required, until the parties reach agreement. d. The parties cannot rely on the liquidated damages clause to set their liability for breach of contract; the court or mediator must establish and award actual damages to the non-breaching party. C. 17. The most applicable real estate/escrow industry term for the completion of the escrow process, resulting in the payment of the buyer's funds to the seller and the transfer of title to the property to the buyer, is the of escrow