190k views
3 votes
Identify correct answer. Sale of the buyer's property with an "escape" clause is a

a) condition
b) right
c) warranty

User Quaneesha
by
8.1k points

1 Answer

6 votes

Final answer:

An 'escape' clause in a property sale agreement is a condition that allows a party to withdraw from the contract. It is different from a warranty, which covers repairs or replacements, or a service contract for ongoing maintenance. Option a

Step-by-step explanation:

The sale of a buyer's property with an "escape" clause is known as a condition. An escape clause, also referred to as a contingency clause, allows one party to withdraw from a contract under specific conditions detailed in the sale agreement.

This is distinct from a warranty, which is a seller's promise to repair or replace the good for a certain time period, or a service contract, where the buyer pays an additional fee for maintenance and repairs over a set time period. Such clauses and contracts are frequently seen in transactions involving substantial purchases like cars, appliances, and houses. Option a

User Jarett
by
8.4k points