Janice contracts to sell a certain tract of land to Anthony for $5,000,but the contract does not state a time for delivery of the deed and payment of the price.In this situation:
A) the contract will be considered void for lack of essential terms.
B) the law will imply that the respective performances are independent of each other and may occur whenever "reasonable under the circumstances."
C) courts will treat the promises to deliver the deed and to pay the $5,000 as mutually dependent.Anthony's duty to pay is conditioned upon Janice's delivery of the deed and Janice's duty to deliver the deed is conditioned upon Anthony's payment or tender of $5,000 to Janice.
D) Janice's duty to deliver the deed and Anthony's duty to pay the $5,000 are "implied-in-fact" conditions.

Question

Quizplus · Accepted Answer

In this situation, courts will treat the promises to deliver the deed and to pay the $5,000 as mutually dependent. Anthony's duty to pay is conditioned upon Janice's delivery of the deed and Janice's duty to deliver the deed is conditioned upon Anthony's payment or tender of $5,000 to Janice. This is known as a condition precedent, meaning that the parties must perform their respective obligations under the contract before the other party's obligations are triggered.

Janice Contracts to Sell a Certain Tract of Land to Anthony