Iggy and Jen sign a contract by which Iggy agrees to deliver and install a gas fireplace on October 15 in exchange for Jen'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 by Iggy and the payment of the price by Jen are concurrent conditions because each party's duty to perform is conditioned upon the other party performing their part of the contract at the same time. Iggy's duty to install the fireplace is conditioned on Jen's promise to pay within ten days, and vice versa, making their obligations to each other occur simultaneously.

Iggy and Jen Sign a Contract by Which Iggy Agrees