A Contract must include the purchase price and method of payment, including the amount of earnest money, if any. If no definite purchase price exists, the contract:
A. Purchase price would be established by the lender's appraisal.
B. Must clearly established the criteria for calculation of the price.
C. Purchase price would be the same as the listing price.
D. Purchase price would be established at closing.
Answer: B. Must clearly established the criteria for calculation of the price.
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A warranty of merchantability means that the buyer has a right to expect that the good performs as expected
Indicate whether the statement is true or false