What happens when a buyer waives a condition in an Agreement of Purchase and Sale?
Correct Answer
D) The buyer gives up the right to terminate under that condition
When a buyer waives a condition, they are voluntarily giving up their right to terminate the contract based on that specific condition. The contract remains binding and the buyer cannot later use that waived condition as grounds for withdrawal.
Why This Is the Correct Answer
Option D correctly identifies that waiving a condition means the buyer voluntarily relinquishes their right to terminate the contract based on that specific condition. Under Canadian real estate law, conditions serve as contingencies that allow contract termination if not satisfied. When waived, the buyer loses this termination right permanently. The contract remains fully binding, and the buyer must proceed regardless of whether the original condition would have been satisfied. This principle is supported by contract law and provincial real estate regulations across Canada.
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