OMVIC Practice Test

The contract for a service plan must be signed by:

1. Only the dealer

2. Only the purchaser

3. Both the dealer and the purchaser

4. The dealer, purchaser, and the warranty provider

The correct answer is: Both the dealer and the purchaser

In order for a contract for a service plan to be valid, it must be signed by both the dealer and the purchaser. This is because both parties are involved in the agreement and have responsibilities that need to be outlined in the contract. Option A is incorrect because only the dealer's signature would not be enough to make the contract legally binding. Option B is also incorrect because only the purchaser's signature would not be enough to ensure that the dealer is held accountable for their responsibilities. Option D is incorrect because the warranty provider is not typically involved in the initial contract and their signature would not be necessary. Therefore, the correct answer is C as both the dealer and purchaser must sign the service plan contract for it to be valid.