Fred contracts to sell a certain tract of land to Mary for $20,000, but the contract is silent as to the time of delivery of the deed and payment of the price. In this case:
A) the payment of the $20,000 and the delivery of the deed are independent of each other.
B) the delivery of the deed is a condition subsequent to the payment of the $20,000.
C) the payment of the $20,000 and the delivery of the deed are mutually dependent and, in the absence of an agreement to the contrary, are concurrent conditions.
D) the payment of the $20,000 is a condition precedent to the delivery of the deed.

Question

Quizplus · Accepted Answer

In contracts for the sale of land, the obligation to pay the purchase price and the obligation to deliver the deed are generally considered to be mutually dependent. This means that unless the contract specifies otherwise, these obligations are to be fulfilled at the same time, making them concurrent conditions.

Fred Contracts to Sell a Certain Tract of Land to Mary