What is the legal effect when a buyer waives a condition in an Agreement of Purchase and Sale before the condition deadline?
Correct Answer
A) The condition is removed and the agreement becomes firm
When a buyer waives a condition before the deadline expires, the condition is immediately removed from the agreement and the contract becomes firm and binding. No acceptance from the seller is required for a valid waiver.
Why This Is the Correct Answer
Option A correctly states the legal principle that a buyer's waiver of a condition immediately removes that condition from the agreement, making it firm and binding. Under Canadian real estate law, conditions are unilateral rights that benefit the party who inserted them. The buyer has the absolute right to waive their protective conditions at any time before the deadline, and this waiver takes effect immediately without requiring seller consent or acceptance. This principle is consistent across all Canadian provinces and reflects the fundamental contract law principle that parties can voluntarily surrender their rights.
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