Ontario Real Estate Salesperson Licensing Exam (OREA Humber)

In Ontario, what is 'consideration' in a real estate contract?

The seller's careful thought about whether to sell Something of value exchanged between the parties, typically the purchase price in exchange for the property The time spent negotiating the deal The real estate agent's commission

Correct Answer:

Something of value exchanged between the parties, typically the purchase price in exchange for the property

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