You can take up to 2 courses per term. So yes, you can take just 1 course in first term if you want. However, if you want to be eligible for OSAP (if you're receiving it), you need a full coarse load to get it, so you would need to take at least 2 courses in one term. So then you would need to pick up a second course for term 1.
I've taken both physics 1B03 and orgo, but I took physics during the year and orgo in the summer. I found orgo to be a pain because the labs were weekly and there was a lot of content jammed into 3 hour night classes, but people take it in the summer because it's supposed to be easier than spreading it out over the term.
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