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.

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Which of the following is NOT a requirement for a valid contract under Ontario law?

Acceptance
Consideration
Intentional Misrepresentation
Legal Purpose

The correct answer is: Intentional Misrepresentation

Intentional Misrepresentation is NOT a requirement for a valid contract under Ontario law. A valid contract typically requires four elements: offer, acceptance, consideration, and legal purpose. Intentional Misrepresentation refers to deceitful or false information provided during the formation of a contract, which goes against the principle of honesty and good faith. This element can render a contract voidable, but it is not a necessary requirement for a contract to be considered valid.