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.

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Which best describes a true condition precedent in real estate agreements?

  1. Is drafted using the same language as a condition subsequent

  2. Is only utilized when an offer depends on a severance

  3. Is ideal for conditions related to obtaining a new first mortgage

  4. Must be satisfied exactly as stipulated

  5. Is appropriate for post-purchase renovations

  6. Can be modified after agreement signature

The correct answer is: Must be satisfied exactly as stipulated

A true condition precedent in real estate agreements must be satisfied exactly as stipulated. This means that there is no room for interpretation or negotiation when it comes to fulfilling the condition. If the condition is not met precisely as outlined in the agreement, the agreement may not proceed or the parties may have the right to walk away from the deal. This strict adherence to the condition distinguishes it from a condition subsequent, which would come into effect only after certain actions are taken. Therefore, option D is the correct choice as it defines a true condition precedent accurately.

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