Which of the following is not a remedy for a breach of contract in real estate transactions?

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Multiple Choice

Which of the following is not a remedy for a breach of contract in real estate transactions?

Explanation:
Remedies for a breach of contract in real estate transactions include specific performance, where the court orders the sale to go through; damages, which compensate the non-breaching party for losses caused by the breach; and rescission, which cancels the contract and returns the parties to their pre-contract positions. The Real Estate Recovery Fund is not a contract remedy; it’s a resource to compensate consumers for losses caused by the misconduct of a licensed real estate professional. It addresses professional conduct issues, not the failure to perform under a contract, so it isn’t used to remedy a breach of contract.

Remedies for a breach of contract in real estate transactions include specific performance, where the court orders the sale to go through; damages, which compensate the non-breaching party for losses caused by the breach; and rescission, which cancels the contract and returns the parties to their pre-contract positions. The Real Estate Recovery Fund is not a contract remedy; it’s a resource to compensate consumers for losses caused by the misconduct of a licensed real estate professional. It addresses professional conduct issues, not the failure to perform under a contract, so it isn’t used to remedy a breach of contract.

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