Common use of Purchaser’s Default Clause in Contracts

Purchaser’s Default. In case of noncompliance by the Purchaser with any term of these Conditions, the Seller shall have the option, in addition to all other remedies provided by law, to exercise any one or more of the following remedies: (a) To retain the Purchaser’s down money as liquidated damages, regardless of whether or not, or on what terms, the property is resold; and /or (b) To resell the Premises at public or private sale, with or without notice to the present Purchaser, and to retain any advance in price, or hold the present Purchaser liable for any loss resulting from such resale, meanwhile holding the down money paid hereunder as security for payment of such loss.

Purchaser’s Default. In case of noncompliance by the Purchaser with any term of these Conditions, the Seller shall have the option, in addition to all other remedies provided by law, to exercise any one or more of the following remedies: (a) To retain the Purchaser’s down money as liquidated damages, regardless of whether or not, or on what terms, the property Premises is resold; and /or (b) To resell the Premises at public or private sale, with or without notice to the present Purchaser, and to retain any advance in price, or hold the present Purchaser liable for any loss resulting from such resale, meanwhile holding the down money paid hereunder as security for payment of such loss.