Ontario Real Estate Salesperson Licensing Exam (OREA Humber)

What happens when a buyer or seller lacks 'capacity' to enter into a real estate contract in Ontario?

The contract is valid but at a higher price The contract may be voidable, meaning the party lacking capacity can choose to affirm or avoid the contract The contract is automatically valid The real estate agent assumes responsibility

Correct Answer:

The contract may be voidable, meaning the party lacking capacity can choose to affirm or avoid the contract

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