Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which of the following is NOT necessary for a valid real estate contract?

Offer and acceptance
Competent parties
Lawful objective
Conditional approval
Consideration
Mutual consent

The correct answer is: Conditional approval

Conditional approval is not necessary for a valid real estate contract. In a real estate contract, the parties must first agree on the terms without any conditions attached. Conditional approval would imply that certain conditions need to be met before the contract is considered valid, which goes against the fundamental concept of offer and acceptance in contract law. Therefore, the presence of conditional approval would make the contract invalid. The other options (A, B, C, E, F) are essential elements for a valid real estate contract.