Asked by Xandrei Lugay on May 07, 2024
Verified
The effect of a condition precedent is that the contract does not come into effect unless the condition is satisfied.
Condition Precedent
A condition in a contract that must be met before a party's promise becomes absolute.
- Identify the significance and function of conditions precedent in the context of contracts.
Verified Answer
MT
Menna TarekMay 11, 2024
Final Answer :
True
Explanation :
A condition precedent is a condition that must be fulfilled before a party's contractual obligation becomes binding. If the condition is not satisfied, the contract does not come into effect.
Learning Objectives
- Identify the significance and function of conditions precedent in the context of contracts.