[Dream Home] Jacob finds a dream home on the lake. He wants to buy it but is unsure whether he can get a loan. He signs a contract with the seller that he will buy the home provided that he can obtain a loan. Jacob also includes a clause in the contract with the seller stating that if he loses his job before the date the purchase contract is signed, the seller will release him from any obligation. After obtaining a loan and buying the home, Jacob decides he wants to have new windows installed. He enters into a contract with a window contractor. The window contractor visits the home, but never finds Jacob there. The contractor makes several attempts to reach Jacob, but Jacob does not return phone calls and makes no attempt to assist the contractor in arranging the window installation.
-The provision that the seller will release Jacob from any obligation if he loses his job is a(n) ________.
A) Condition subsequent
B) Condition precedent
C) Bona fide condition
D) Condition concurrent
E) Exculpatory condition
Correct Answer:
Verified
Q68: All of the following are types of
Q69: [Dream Home] Jacob finds a dream home
Q70: Which of the following is not true
Q71: [Bathroom Mess] For $300,000, Michael agreed to
Q72: Under the UCC, how are compensatory damages
Q74: [Bathroom Mess] For $300,000, Michael agreed to
Q75: College president Robert contracted with Denise to
Q76: _ remedies, as applied in the U.S.,
Q77: Which of the following is an order
Q78: Gloria contracts with Melody to supply her
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents