Schloo offered to purchase Baker's snowmobile if he could arrange a loan with the bank for the funds.Schloo and Baker signed a written purchase agreement that did not mention the fact that Schloo did not have the necessary funds in his possession.
-If the bank refused to lend Schloo the money,the contract would be enforceable against Jones.

Question

Quizplus · Accepted Answer

The contract is enforceable against Schloo, not Jones. Schloo's ability to secure a loan is a condition precedent, and if he fails to obtain financing, he may be in breach of contract unless the agreement explicitly states otherwise.

Schloo Offered to Purchase Baker's Snowmobile If He Could Arrange