Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

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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What action does a lawyer's personal promise regarding unpaid taxes prior to closing represent?

Fiduciary duty.
Best efforts by the client.
Personal guarantee by the lawyer.
Specific performance.
Undertaking involving the assurance of the client.
Commitment involving a third party.

The correct answer is: Best efforts by the client.

In this scenario, the correct answer is "Best efforts by the client." This refers to the lawyer making a personal promise regarding unpaid taxes prior to closing. It signifies that the lawyer is committed to doing their best to ensure that the issue of unpaid taxes is addressed before the closing of the real estate transaction. The other options are not applicable because: - Fiduciary duty typically refers to the lawyer's duty to act in the best interests of their client, rather than a personal promise regarding taxes. - A personal guarantee by the lawyer would imply a more formal commitment than simply making their best efforts. - Specific performance usually relates to enforcing a contract or agreement, which is not directly relevant to the lawyer's personal promise in this context. - Undertaking involving the assurance of the client and commitment involving a third party do not accurately capture the nature of the lawyer's action in promising to address the unpaid taxes.