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What Is An Escape Clause?
Category - Home Buying FAQ's - Buying Legal & Closing

An escape clause is a provision under the sales contract relieving one of the parties (buyer or seller) of liability for failure to perform.  For example, if a contingency in the contract allows the party to cancel the contract for no reason whatsoever, there really is no enforceable contract, for mutuality of obligation is lacking. 

 
Category(s)
Home Buying FAQ's - Buying Legal & Closing
Home Buying FAQ's - General Home Buying
Home Selling FAQ's - General Home Selling
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