Faiz enters into a contract to buy 350 acres from Grain Farm to cultivate hops and open a brewery. Faiz fails to make the purchase. Grain Farm's remedy is most likely
A)the amount that Faiz expected to invest in the brewery.
B)a percentage of Faiz's unrealized profit.
C)the difference between the contract and market prices of the land.
D)nothing-Grain Farm still owns the land.

Question

Quizplus · Accepted Answer

The most common legal remedy for a breach of contract in real estate transactions is to award damages equal to the difference between the contract price and the market value of the land at the time of the breach. This compensates the seller for the loss in value of the contract not being fulfilled.

Faiz Enters into a Contract to Buy 350 Acres from Grain