Standard measure of damages

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Buyer agrees to buy Seller's house for $200,000. On the day for the closing, Seller refuses to sell. The only other house for sale in Seller's neighborhood with the same number of bedrooms is offered at a nonnegotiable $250,000. If Buyer buys the other house: (i) what would Buyer's damages be under the standard measure of damages, and (ii) are Buyer's actions reasonable? Explain.

Reference no: EM132414235

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