Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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. c. 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Marketing And Export Management

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

8th Edition

1292016922, 978-1292016924