Horatio owns a piece of land called Blackacre.He contractually agreed to sell it to Bharati for $200 000.Although the sale was not scheduled to close for four weeks, Horatio required Bharati to pay $10 000 immediately.Shortly before the sale was scheduled to close, Horatio told Bharati that he had changed his mind and that he was not willing to complete the sale.If he refuses to refund her $10 000, she would be entitled to use a vendor's lien.

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A vendor's lien is a right reserved by the seller (vendor) of property to secure payment of the balance of the purchase price. In this scenario, Bharati, as the buyer, would not use a vendor's lien but might seek other legal remedies to either enforce the sale or recover her $10,000.

Horatio Owns a Piece of Land Called Blackacre