Seller and purchaser enter into a contract to purchase real property at a fair market value of $100,000.00. Seller refuses to perform the contract and at the time of seller's default the fair market value of the property is $110,000.00. The purchaser can recover from the seller the following money damages:
A) $100,000.00
B) 0
C) $10,000.00
D) $110,000.00

Question

Quizplus · Accepted Answer

The purchaser can recover the difference between the contract price and the fair market value at the time of the breach, which is $10,000.00 ($110,000.00 - $100,000.00).

Seller and Purchaser Enter into a Contract to Purchase Real