Humber/Ontario Real Estate Course 2 Exam Practice

When attaching a schedule to the preprinted agreement of purchase and sale, what step should be taken?

1. A reference to that schedule should be included on the first page of the agreement and the schedule attached following the final page of the preprinted agreement

2. Additional clauses included in a schedule would never override any of the preprinted clauses in the agreement

3. The buyer need not initial an attached schedule

4. The schedule does not require any cross-reference information included on that schedule

The correct answer is: A reference to that schedule should be included on the first page of the agreement and the schedule attached following the final page of the preprinted agreement

When attaching a schedule to the preprinted agreement of purchase and sale, it is important to include a reference to that schedule on the first page of the agreement, and the schedule should be physically attached following the final page of the preprinted agreement. This ensures that all parties are aware of the additional terms and conditions outlined in the schedule and understand that it forms part of the overall agreement. Option B is incorrect because additional clauses included in a schedule can indeed override preprinted clauses in the agreement if they are specifically addressed and agreed upon by all parties. Option C is incorrect because it is common practice for the buyer to initial an attached schedule to indicate their acknowledgment and acceptance of its contents. Option D is incorrect because cross-reference information should be included on the attached schedule to clearly link it to the main agreement and avoid any confusion or disputes in the future.