Humber/Ontario Real Estate Course 4 Exam Practice

What is the correct course of action regarding delivery of copies after Seller Haydon accepts an agreement of purchase and sale from Buyer Miranda?

1. Seller Haydon must receive his copy of the accepted agreement within 24 hours of acceptance.

2. Both Seller Haydon and Buyer Miranda must immediately receive a copy of the accepted agreement.

3. Buyer Miranda would receive her copy of the accepted agreement before Haydon, as she signed the 'confirmation of acceptance' first.

4. Seller Haydon should receive a copy right after accepting the agreement of purchase and sale.

5. Both parties can receive copies within 48 hours of the acceptance.

6. Only Buyer Miranda is entitled to a copy of the agreement first.

The correct answer is: Seller Haydon should receive a copy right after accepting the agreement of purchase and sale.

After Seller Haydon accepts an agreement of purchase and sale from Buyer Miranda, the correct course of action is for Seller Haydon to receive a copy of the accepted agreement right after accepting it. This is because it is crucial for Seller Haydon to have a copy of the agreement for his records and reference. It also ensures that the seller is aware of the terms and conditions they have agreed to. Option A is incorrect because there is no specific timeframe of 24 hours for Seller Haydon to receive his copy. Option B is incorrect as it states that both parties must immediately receive a copy, which is not typically the standard practice. Option C is incorrect because the order of receiving copies is not determined by who signed the 'confirmation of acceptance' first. Option E is incorrect as it suggests that both parties can receive copies within 48 hours, which is not the standard practice. Option F is incorrect since both parties involved in the agreement are entitled to receive a copy, not just Buyer Miranda.