Polly agrees to buy Quinn's Cycle World store business on the express condition that Ridgeline Credit Union approves the financing.This approval is
A)not a condition.
B)a condition precedent.
C)a concurrent condition.
D)a condition subsequent.

Question

Quizplus · Accepted Answer

The condition of Ridgeline Credit Union's approval is a condition precedent because it must be satisfied before the sale can be completed. Polly's obligation to buy Quinn's Cycle World store business is conditional on the approval of financing from Ridgeline Credit Union.

Polly Agrees to Buy Quinn's Cycle World Store Business on the Express