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algol13
2 years ago
8

Jim and Evan enter into a real estate contract. The contract allows Evan to get a mortgage at 5% interest. But after due diligen

ce, Evan can only get a mortgage at 8% interest. What will happen to the real estate contract
Business
1 answer:
Lina20 [59]2 years ago
3 0

Since Evan can only get a mortgage at 8% interest instead of at 5%, the real estate contract suffers <u>termination by contingency</u>.

<h3>What is a contingency?</h3>

A contingency in a real estate contact is a term that is required to happen before its closing.  

Thus, termination by contingency will allow Jim to terminate the contract without consequences.

Learn more about termination by contingency at brainly.com/question/19567994

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A measure of social class that is based on income, wealth, prestige and power is called? a. socioeconomic status. b. esteem. c.
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What is Socioeconomic Status?

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A measure of social class that is based on income, wealth, prestige and power is called socioeconomic status.

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5 0
1 year ago
Calculate gross profit for the following situation: National Storage Company had sales of $1,000,000, sales discounts of $2,500,
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Answer:

$475,500

Explanation:

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3 0
3 years ago
As a general rule concerning job offers, it can be said that __________. select one:
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As a general rule concerning job offers, it can be said that <span>"competitive" job offers tend to leave room to negotiate</span>. When a company decides they want to hire a person, they make a job offer that lays out what they are giving the person in return for their employment. They explain the benefits and their job duties. Because job offers are competitive they leave room for the person being hired to negotiate terms before they both agree on them. 
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3 years ago
From an Associated Press article on Venezuela dated January 22, 2008: "... troops are cracking down on the smuggling of food ...
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