Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant. Hal and Sophia, for their own protection, put a clause in the contract that says the sale is contingent upon an independent appraisal indicating that the restaurant is worth at least $700,000. This clause is known as:

A. a condition subsequent.

B. a condition mandate.

C. a condition precedent.

D. a concurrent condition

Question

Business

Vance Raymond

25 September, 05:15

Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant. Hal and Sophia, for their own protection, put a clause in the contract that says the sale is contingent upon an independent appraisal indicating that the restaurant is worth at least $700,000. This clause is known as:

A. a condition subsequent.

B. a condition mandate.

C. a condition precedent.

D. a concurrent condition

+1

Answers (2)

Know the Answer?

Alfred Washington · Answer 1

C. a condition precedent.

Explanation:

A state of affair that is needed before anything else may take place. Hai and Sophia formulated a contract that is based on protecting their interest in case anything might happen onto their sale regarding the restaurant.

Moshe Berger · Answer 2

Answer: Condition precedent.

Explanation:

Condition precedent could be defined as events or happenings that would be required to take place before something else will occur. Hal and Sophia wants to protect their investment and they placed a clause that the restaurant is worth $700000, this clause is known as a condition precedent, they did this to protect their interest, and if it's not worth that, they won't invest.