Person T made an offer for the B residence, and the Bs accepted the offer. On reconsidering, Person T decided to back out of the deal, and the Bs agreed to let Person T do so. Person T and the Bs then signed
a. a novation of the purchase contract.
b. an agreement rescinding the purchase contract.
c. an assignment of the purchase contract.
d. an agreement reforming the purchase contract.
Answer: b. an agreement rescinding the purchase contract.
Business
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