Frequently,real estate contracts are conditioned on an event such as the buyer's ability to sell his current home by a certain date.If the home does not sell,the condition does not arise,and the parties have no duty to perform and are thus discharged from the contract.This is an example of a contract that is subject to a ________.
A)condition subsequent
B)condition precedent
C)concurrent condition
D)real condition
E)fixed condition

Question

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A condition precedent is a particular event that must occur in order for a party's duty to arise.If the event does not occur,the party's duty to perform does not arise.Frequently,real estate contracts are conditioned on an event such as the buyer's ability to sell his current home by a certain date.If the home does not sell,the condition does not arise,and the parties have no duty to perform and are thus discharged from the contract.This is an example of a contract that is subject to a condition precedent.

Frequently,real Estate Contracts Are Conditioned on an Event Such as the Buyer's