Alberta Real Estate Licensing Exam Practice · Question
Which of the following is a key element of a valid contract for the sale of real estate in Alberta?
A valid contract requires mutual agreement, consideration, legal capacity, and a lawful purpose, with offer and acceptance being crucial.
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Question: Which of the following is a key element of a valid contract for the sale of real estate in Alberta?
Answer options: ✅ Mutual agreement (offer and acceptance)
- Verbal agreement only
- A handshake
- Only buyer's signature
Correct answer: Mutual agreement (offer and acceptance)
Explanation: A valid contract requires mutual agreement, consideration, legal capacity, and a lawful purpose, with offer and acceptance being crucial.
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