A entered into a contract of sale over B's house and lot but since there is a balance which remained unpaid, A executed a mortgage over the house and lot. A failed to pay. Can B rescind the contract?
A)Yes, because of material and substantial breach.
B)Yes, because there was delay in the payment of the price.
C)No, because the relationship is no longer that of buyer and seller, but mortgagor and mortgagee.
D)No, because the remedy is to foreclose the mortgage, rescission not being the principal remedy, but merely subsidiary.

Question

Quizplus · Accepted Answer

The primary remedy for non-payment in a mortgage is foreclosure, not rescission, which is a subsidiary remedy.

A Entered into a Contract of Sale Over B's House