A buyer has an enforceable contract to purchase land. Before closing, the seller conveys the same land to a third party who records. The buyer seeks specific performance. Under equitable conversion, the buyer:
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A
Has no remedy because the third party recorded first
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B
May obtain specific performance and the third party is not a bona fide purchaser as against the buyer's equitable title
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C
Must accept money damages because specific performance is unavailable against recorded deeds
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D
May only obtain rescission and refund of the purchase price