A buyer makes a 5% deposit on a $500,000 property and defaults on the purchase agreement. If the liquidated damages clause is valid, what is the maximum amount the seller can retai... A buyer makes a 5% deposit on a $500,000 property and defaults on the purchase agreement. If the liquidated damages clause is valid, what is the maximum amount the seller can retain from the buyer's deposit?
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The question asks to calculate the maximum amount a seller can retain from a buyer's deposit in case of default, given a valid liquidated damages clause and the deposit amount.
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