Seller enters into a contract with purchaser to sell real property for $100,000.00. Purchaser defaults on the contract, and at the time of default the fair market value of the property is $90,000.00. Seller shall be entitled to recover from purchaser the following money damages:
A) 0
B) $100,000.00
C) $10,000.00
D) $90,000.00

Question

Quizplus · Accepted Answer

The seller is entitled to recover the difference between the contract price and the fair market value at the time of default, which is $10,000.00 ($100,000.00 - $90,000.00).

Seller Enters into a Contract with Purchaser to Sell Real