Ontario Barrister and Solicitor Practice Exam 2025 – The All-in-One Guide to Achieving Exam Success!

Question: 1 / 400

Under what condition can a lawyer act for both the borrower and lender in a mortgage transaction?

If the transaction is less than a specific value

Only if both parties insist

The lender is a registered lending corporation

A lawyer can only act for both the borrower and lender in a mortgage transaction if the lender is a registered lending corporation. This is because a registered lending corporation is regulated and has specific guidelines and procedures in place to protect the interests of both parties.

The other options are incorrect because

Option A: The transaction value is not relevant in this scenario.

Option B: Both parties insisting does not necessarily guarantee ethical or legal boundaries are being upheld.

Option D: Consent from a third party does not necessarily address conflicts of interest or potential breaches of client confidentiality.

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With consent from a third party

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