Answer the following question as it relates to the 2013 Louisiana Residential Agreement to Buy or Sell: The purchase agreement provides that failure to provide the agreed upon deposit shall require the buyer to pay 1% interest for each day the deposit is late. TRUE or FALSE?

True

Explanation:

When the agreement is formed, both parties buyer and seller have the right to list the terms and add covenants if they wish to add in the agreement. Once the agreement is signed by both the parties then they abide by all the terms listed in those agreement. Louisiana Residential agreement has listed terms about delay in deposit, if buyer agrees to those terms he abide by them.

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