15) Seller writes Buyer on 1/1/09 and says: “I will sell you my house for $100K closing will be 12/31/09.” Buyer writes Seller: “Ok”. On 1/1/10, Buyer failed to pay for the house. Buyer’s failure to buy the house is called____________? a) Failure to buy b) Failure to purchase c) Breach d) Screech
The buyer's failure to purchase the house on the date mentioned in the contract is called the breach of the contract
C)Breach
There are two types of breach of contract actual breach of contract and anticipated breach of contract
In case of actual breach the buyer doesn't intimate the seller regarding his inability before due date
In case of anticipated breach the buyer informs the seller in advance regarding his inability to pay
In this question it is a case of actual breach of contract
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