Humber/Ontario Real Estate Course 3 Exam Practice

Which condition must be met exactly as stated in the agreement?

1. Is commonly worded similar to a condition subsequent

2. Is mainly used when a sale is contingent on a severance

3. Is most suitable for securing a new first mortgage

4. Requires exact fulfillment as written

5. Can be modified slightly to fit circumstances

6. Allows for reasonable deviation in fulfillment

The correct answer is: Requires exact fulfillment as written

The correct answer requires the condition to be fulfilled exactly as written in the agreement. This means that any variation or deviation from the specified terms would not satisfy the requirement, potentially jeopardizing the agreement. In real estate transactions, certain conditions are designed to protect the interests of parties involved, ensuring that all aspects are as agreed upon without any alteration. Conditions like these are often critical to the contract's integrity; therefore, strict adherence to their wording is necessary for them to be considered fulfilled. For instance, if a contract states that a specific inspection must be completed by a particular date, failing to meet that exact condition might allow for the deal to fall through, as it was explicitly outlined in the agreement. This underscores the importance of precision and clarity in contractual obligations within real estate practices.