A purse maker enters into a contract to purchase a store with a closing date that cannot be delayed. The store would violate a zoning ordinance due to an outdated fire sprinkler system. The owner promises to upgrade but not by the closing date. The contract implies marketable title. What is the effect on closing?

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Multiple Choice

A purse maker enters into a contract to purchase a store with a closing date that cannot be delayed. The store would violate a zoning ordinance due to an outdated fire sprinkler system. The owner promises to upgrade but not by the closing date. The contract implies marketable title. What is the effect on closing?

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