Pacific NorthWest XXI-P LLC has entered a purchase and sale…
Pacific NorthWest XXI-P LLC has entered a purchase and sale agreement to acquire Sevigny Shopping Centre, a 98,000 net rentable square foot lifestyle center, for $11,000,000. The agreement requires Pacific NorthWest to be approved for financing within 60 days after July 1, the effective date of the agreement. Pacific NorthWest applied for funding from an insurance company, a pension fund, and a private equity group. If the LLC has internal qualms about proceeding with its purchase, but continues with its applications to obtain loan approval during the 60 day period, the seller can properly sue Pacific NorthWest for: (Select one answer only.)