Ontario Solicitor Bar Practice Exam 2025 – The Complete All-in-One Guide for Exam Success!

The validity of the transaction where Jones mortgages Parcel B to the bank hinges on the concept of consent. In this scenario, if consent was obtained from all necessary parties, then the transaction is indeed valid. This is rooted in the principle that individuals have the right to enter into agreements regarding their property, provided that they possess the authority to do so and that any required consents are secured.

In the context of mortgaging property, a borrower—like Jones—must typically hold legal title to the property in question, and the lender has to agree to the terms of the mortgage. If consent was duly obtained, it indicates that all necessary legal and procedural requirements were met, affirming the validity of the transaction.

The other options introduce conditions that would undermine the simplicity of the situation. They imply additional requirements that are not typical for a straightforward consent scenario, such as needing extra consent or ownership of the property, which could complicate or invalidate the transaction unnecessarily if they aren't actual requirements in this context.