Humber/Ontario Real Estate Course 4 Exam Practice

What is Salesperson Butler discussing when explaining the fulfillment of a condition precedent clause in a sales agreement?

1. The necessity of including a waiver with every condition precedent.

2. The importance of immediate offer acceptance.

3. The inclusion of additional warranty clauses.

4. Firm agreement upon condition fulfillment or waiver.

5. Non-negotiable terms within the purchase agreement.

6. Legal implications of conditional clauses.

The correct answer is: Firm agreement upon condition fulfillment or waiver.

Salesperson Butler is discussing the firm agreement upon condition fulfillment or waiver when explaining the fulfillment of a condition precedent clause in a sales agreement. This means that all parties involved must come to a definite agreement once the condition specified in the contract is either fulfilled or waived. This is a crucial aspect of contract law as it ensures clarity and accountability in the sales transaction. Option A is incorrect because not every condition precedent requires a waiver to be included. Option B is incorrect as immediate offer acceptance is not necessarily related to fulfilling a condition precedent clause. Option C is incorrect because the discussion is about condition precedent clauses, not additional warranty clauses. Option E is incorrect since the focus is on conditions precedent, not non-negotiable terms. Option F is incorrect as the discussion centers specifically on the fulfillment or waiver of conditions in the contract.