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Rescission of the purchase agreement

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Reference no: EM132403890

A buyer agreed to purchase two commercial properties from the Salvation Army. Before escrow could close, fire destroyed a building on one of the parcels. The buyer wanted to go ahead and complete the sale-at a reduced price-but the Salvation Army wouldn't agree to take less than the full amount.

Could the buyer force the seller to sell at a reduced price, or was rescission of the purchase agreement his only remedy?

Reference no: EM132403890

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