Ch 12 Summaries

Question 1

If the purchase agreement and escrow instructions conflict, the ____ generally prevail as the more recent document.

Answer 1

escrow instructions

Question 2

If the parties can’t resolve a conflict, the escrow agent should ____ any funds or items already in escrow.

Answer 2

interplead

Question 3

T/F: If it becomes apparent that a condition can’t be met before closing, either party may waive the condition

Answer 3

False

Only the Party who benefits from the condition may waive it

Question 4

Who may amend the original agreement If it becomes apparent that a condition can’t be met before closing

Answer 4

The buyer AND seller