Asked by Holly Bienias on Jul 14, 2024
Verified
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.
Concurrent Conditions
Conditions in a contract that must occur or be performed at the same time; they are mutually dependent. No obligations arise until these conditions are simultaneously performed.
Conditions Precedent
Specific conditions outlined in a contract that must be met before certain contractual obligations become enforceable.
Gas Fireplace
A heating appliance that uses natural gas or propane as fuel to produce heat, often designed to mimic a traditional wood-burning fireplace with less maintenance.
- Understand the legal consequences associated with contractual conditions.
Verified Answer
LC
Lizbeth CabrejaJul 19, 2024
Final Answer :
B
Explanation :
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.
Learning Objectives
- Understand the legal consequences associated with contractual conditions.