Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which of the statements is NOT correct regarding contract law?

Non est factum means 'the facts are not true'
If a contract between buyer and seller is void, it never existed in the eyes of the law
A contract with a minor is voidable, not void
A material latent defect that is undisclosed can invalidate the contract
A contract is binding if agreed upon by mutual consent
For fraud to void a contract, it must be proven

The correct answer is: Non est factum means 'the facts are not true'

Option A is NOT correct because "Non est factum" does not mean 'the facts are not true'. Instead, "Non est factum" is a legal defense used in contract law when a person signs a document without understanding its nature or contents. This defense asserts that the signer was mistaken about the nature of the document they signed, rather than alleging that the facts within the document are untrue or incorrect.