KnockKnock is a manufacturer of stainless steel locks that are well-known for their durability. The company contacts a new stainless steel supplier and enters into a supply contract. The contract states that KnockKnock would purchase only if the steel from the supplier was high-grade Type 102 stainless steel. This is an instance of a ________.

Question

Quizplus · Accepted Answer

The contract between KnockKnock and the supplier contains a condition precedent because the purchase of steel by KnockKnock is dependent on the supplier providing high-grade Type 102 stainless steel. The condition has to be fulfilled before the contract can be enforced.

KnockKnock Is a Manufacturer of Stainless Steel Locks That Are