Humber/Ontario Real Estate Course 2 Exam Practice

Which statement best describes the 'Agreement in Writing' clause in a real estate contract?

1. It informs the seller that a consumer report may be accessed.

2. It dictates that time limits in the agreement must be adhered to.

3. The clause is not relevant when a seller take back mortgage is considered.

4. Any changes in the agreement supersede preprinted wordings.

5. It ensures all verbal agreements are legally binding.

6. It mandates the order in which addendums are to be presented.

The correct answer is: Any changes in the agreement supersede preprinted wordings.

The 'Agreement in Writing' clause in a real estate contract states that any changes to the agreement made after the initial written contract must be in writing to be valid. This clause ensures that modifications, additions, or amendments to the contract are documented clearly and legally. It emphasizes the importance of written communication to prevent misunderstandings or disputes between the parties involved. This clause serves to protect all parties by explicitly stating that any alterations or additions must be officially documented to have legal standing.