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I just signed an Agreement of Purchase and Sale last week, but not sure about the meaning of the "Irrevocable Date". It states like this:
"Subject to the Provisions of paragraph 20 hereof, this Agreement when executed by the Purchaser constitutes an offer to purchase irrevocable for a period of ten days from the date of execution and upon acceptance by the Vendor shall constitute a binding Agreement of Purchase and Sale."
What does this paragraph means? Does this mean I can still terminate this contract within ten days without any penalty?
Your help is greatly appreciated...
