Contracts
An addendum to a purchase contract is used to:
AReplace the original purchase contract entirely
BModify or add terms to the existing purchase contract✓ Correct
CCancel the purchase contract by mutual agreement
DExtend the seller's disclosure obligations
Explanation
An addendum modifies or adds terms to an existing contract while the original contract remains in effect. Common addendums in real estate transactions cover inspections, financing contingencies, and property condition disclosures.
Related Idaho Contracts Questions
- An offer to purchase real property becomes a binding contract when:
- An Idaho 'open listing' agreement means:
- A 'liquidated damages' clause in an Idaho purchase contract typically provides that if the buyer defaults:
- What is a 'hold harmless clause' in an Idaho real estate transaction?
- What is a 'survey contingency' in an Idaho real estate contract?
- What is an 'appraisal contingency' in an Idaho purchase contract?
- In Idaho, a real estate purchase agreement that has been breached by the seller may entitle the buyer to which of the following remedies?
- An Idaho seller accepts an offer with an escalation clause. The escalation clause means:
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →