A buyer and seller agree that the sale will be contingent on the buyer receiving financing. The buyer later decides that she doesn't want the property, so she doesn't bother to fill out any loan applications. The contingency is dropped from the agreement because
A. The contingency would be considered unreasonable
B. The buyer did not make a reasonable, good-faith effort to fulfill the contingency
C. The only allowable contingencies are those that benefit the seller
D. The contingency has been fulfilled
Answer: B. The buyer did not make a reasonable, good-faith effort to fulfill the contingency
Business
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