Crucial Exams

Multistate Bar Examination Practice Question

Under the common-law measure of damages, which of the following best states the typical monetary remedy available to a seller when a buyer breaches an executory contract for the purchase of real property, assuming the contract does not contain a valid liquidated-damages clause and the seller does not elect specific performance?

  • The profit (if any) the seller realizes when the property is later resold at a higher price.

  • Return of any earnest-money deposit to the seller, but no additional recovery.

  • Punitive damages in an amount sufficient to deter future breaches by buyers in the jurisdiction.

  • The difference between the contract price and the property's fair-market value at the time of breach, plus any incidental damages.

Multistate Bar Examination
Real Property
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