What typically results in the termination of a real estate contract involving an unlicensed operation?

In the context of a real estate contract involving an unlicensed operation, the termination typically results from the failure to obtain necessary licenses. When a party in a real estate transaction does not possess the required licenses, they are legally restricted from performing certain activities that fall under licensed operations, such as negotiating asset transfer or representing clients in transactions. This lack of licensure creates a fundamental issue with the enforceability of the contract. The law does not recognize the validity of contracts that are formed where one party is not capable of lawfully performing their obligations due to regulatory requirements.

The other options, while they can lead to contract termination in various circumstances, do not specifically address the issue of unlicensed operations in real estate. Mutual agreement may end a contract, but it does not relate directly to licensing issues. Impossibility of performance generally refers to situations where it is literally impossible to fulfill a contract's terms due to unforeseen events, rather than a lack of legal capability. Non-payment of a deposit could lead to termination but hinges on contractual obligations being met, which are not possible if one party is unlicensed. Thus, failing to obtain the necessary licenses is the most direct cause of contract termination in these scenarios.