ContractsIntermediateArizona Exam

An Arizona contract addendum is valid only if:

AIt is dated before the original contract

BIt is signed by all parties who signed the original contractCorrect

CIt is prepared by the listing agent only

DIt is notarized

Why It is signed by all parties who signed the original contract Is Correct

Answer B: It is signed by all parties who signed the original contract

For an addendum to be binding, all parties who were parties to the original contract must sign it. An addendum signed by only one party does not modify the contract terms.

Exam Tip: Contracts

Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.