Humber/Ontario Real Estate Course 1 Exam Practice

Which of the following is not a requirement for the acceptance of an offer?

1. Unconditional; not restricted or limited in any way.

2. Communicated to the person to whom the offer was made.

3. Made in the manner required by the person making the offer.

4. Made within the time limit required by the person making the offer.

5. Presented in a formal document recognized by both parties.

6. Accepted by the offeror's legal representative if absent.

The correct answer is: Presented in a formal document recognized by both parties.

The acceptance of an offer in real estate transactions does not require the acceptance to be presented in a formal document recognized by both parties. While a formal document is often used in practice to ensure clarity and legality, acceptance can actually occur through various means, including verbal acceptance or informal written communication. The crucial aspect is that the acceptance is communicated effectively and adheres to the conditions set forth in the offer itself. Other requirements such as being unconditional, communicated properly, made in the specified manner, adhering to time limits, and potentially being accepted by a legal representative if the offeror is unavailable, all serve to ensure that the acceptance aligns with the initial offer and that all parties understand and agree to the terms.