When a Contract Is Subject to a Condition Precedent and the Condition

question 43

Essay

When a contract is subject to a condition precedent and the condition is not satisfied,the contract ceases to exist.Explain.

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Definitions:

Fixed Cost

A cost that does not change with an increase or decrease in the quantity of goods or services produced or sold.

Accounting Salaries

The wages or salaries paid to employees working in the accounting department, reflecting the cost associated with managing financial records and reports.

Fixed Cost

Expenses that do not change with the level of production or sales activities, such as rent, salaries, and insurance premiums.

Screen Printing

A printing technique where a mesh is used to transfer ink onto a substrate, except in areas made impermeable to the ink by a blocking stencil.