________ refers to a condition that requires the occurrence of an event before a party is obligated to perform a duty under a contract.
A)Condition precedent
B)Condition subsequent
C)Concurrent condition
D)Implied condition

Question

Quizplus · Accepted Answer

A condition precedent is a condition that must occur before a party is obligated to perform under a contract. In other words, the contract will not go into effect until the condition precedent is fulfilled. An example of a condition precedent could be a contract for the sale of a house that only goes into effect if the buyer is able to secure financing.

________ Refers to a Condition That Requires the Occurrence of an Event