Question

An unimproved lot is located in the service area of a water supply corporation. The seller is subject to the notice requirements relating to a service provider. What is the buyer’s statutory remedy if the seller fails to give the written notice REQUIRED by law?

Answer 1

Terminate the purchase contract with the seller

Explanation:A statutory remedy is a legally approved process, a set of activities which is aimed at compensation, redress or addressing a failure to execute or act in a specified way which led to the loss or inability to an activity to be performed.

The statutory remedy which is also the process of correcting a wrong or imposing penalty in order to correct the wrong in this case is to terminate the purchase contract with the seller, THIS WILL HELP TO REMEDY AND ACT AS A CORRECTIVE ACTION TO THE SELLER IN ORDER TO CORRECT HIS OR HER FAILURE.