Iggy and Jon sign a contract by which Iggy agrees to deliver and install a gas fireplace on October 15 in exchange for Jon's promise to pay the $500 price within ten days of the install date. The delivery and installation of the fireplace and the payment of the price are examples of
A) conditions precedent.
B) concurrent conditions.
C) conditions subsequent.
D) implied conditions.

Question

Quizplus · Accepted Answer

The delivery and installation of the fireplace and the payment of the price are concurrent conditions because both parties are expected to perform their obligations at the same time or in a manner that is dependent on the other party's performance.

Iggy and Jon Sign a Contract by Which Iggy Agrees