Sam enters into a contract agreement to buy Betty Lou's house on the condition that he is able to secure financing at or below 6% per year.This is a

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A condition precedent is a condition that must be met before a contract can be binding. In this case, Sam's ability to secure financing at or below 6% per year is a condition that must be met before the contract to buy Betty Lou's house is binding.

Sam Enters into a Contract Agreement to Buy Betty Lou's