Question
The following is a list of contract provisions. With each provision, indicate whether it favors the seller or the purchaser and briefly state why. a.
The following is a list of contract provisions. With each provision, indicate whether it favors the seller or the purchaser and briefly state why.
a. Seller is to convey marketable title to the real property at closing.
b. "Time is of the essence."
c. Seller shall not alter or encumber the title to the property after the date of the contract without the prior written consent of purchaser.
d. The taxes and insurance shall be prorated.
e. The contract is silent as to the risk of loss between date of contract and date of closing.
Here's what I think each one is...
a.) favor's seller (not sure how to explain why though lol) b.) favor's seller c.) favor's purchaser d.) purchaser e.) I feel like with this one it is almost equal and maybe it slightly favor's the seller...
I am not sure if my answers are correct or not and I could use help with briefly stating the why for each of them.
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