What is a condition precedent?
A) An event that is related to a contract and happens before a contract takes effect.
B) An unconditional undertaking given by a promisee to the promisor to perform an event before a contract takes effect.
C) An undertaking, conditional on the execution of a contract between the parties, that a promisee makes to a promisor prior to entering into a contract.
D) An event that happens before a contract takes effect.
E) Any set of circumstances or events that the parties agree must be satisfied or must happen before their contract takes effect.

Question

Quizplus · Accepted Answer

A condition precedent is a specific event or set of circumstances that must occur or be satisfied before a contract becomes effective or enforceable.

What Is a Condition Precedent