Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Course 2 Exam with our comprehensive practice tests. Study with flashcards, multiple choice questions, and detailed explanations to ensure you are ready for exam day!

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When a lawyer adds a personal promise to pay a special assessment on behalf of their client before closing, this promise is best described as?

A best efforts undertaking by the client.
A legal guarantee.
An undertaking involving the assurance of the client.
A fiduciary commitment.
A lawyer-client agreement.
Requisition.

The correct answer is: A best efforts undertaking by the client.

When a lawyer adds a personal promise to pay a special assessment on behalf of their client before closing, this is best described as a "best efforts undertaking by the client." In this scenario, the lawyer is making the promise to pay the special assessment in case the client defaults. It is important to note that this promise is not a legal guarantee, a fiduciary commitment, or a lawyer-client agreement. Additionally, it does not involve an assurance of the client, nor is it a requisition. The key point here is that the personal promise is a demonstration of the client's commitment to making their best effort to fulfill their obligations.