BC Real Estate Trading Services Licensing Exam Practice · Question
Scenario 60: A buyer makes an offer on a property conditional on obtaining satisfactory financing. The seller accepts the offer. This contract is considered:
When an offer with a condition precedent is accepted, a binding contract is formed, but the obligations of the parties are suspended until the condition is fulf
Start free practice for BC Real Estate Trading Services Licensing Exam Practice
242 questions · no signup required · 40 free questions per day
Question: Scenario 60: A buyer makes an offer on a property conditional on obtaining satisfactory financing. The seller accepts the offer. This contract is considered:
Answer options:
- Void.
- Voidable.
- Fully binding and enforceable. ✅ Binding, but subject to a condition precedent.
Correct answer: Binding, but subject to a condition precedent.
Explanation: When an offer with a condition precedent is accepted, a binding contract is formed, but the obligations of the parties are suspended until the condition is fulfilled. It is not fully enforceable until then. The correct answer is "Binding, but subject to a condition precedent.". This capacity-fill scenario 60 reinforces the same competency for the bc-real-estate bank and follows the certified explanation standard.
Start free practice for BC Real Estate Trading Services Licensing Exam Practice
242 questions · no signup required · 40 free questions per day
More about BC Real Estate Trading Services Licensing Exam Practice
Related Questions
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
- Maria is purchasing a unit in a newly constructed strata building in Squamish. Her real estate licensee, Ken,
- A B.C. lawyer, acting on forged documents, fraudulently transferred a property located in Victoria from its ri
- A buyer is looking to purchase a home for $800,000 in Vancouver. They have saved a down payment of $100,000. W
More for BC Real Estate Trading Services Licensing Exam Practice candidates
Question explanations
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
- Maria is purchasing a unit in a newly constructed strata building in Squamish. Her real estate licensee, Ken,
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free BC Real Estate Trading Services Licensing Exam Practice Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.