If a Contract Requires the Occurrence or Nonoccurrence of an Event

question 1

True/False

If a contract requires the occurrence or nonoccurrence of an event before a party is obligated to perform a contractual duty,this is a condition antecedent.

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Repriced

Adjusted to a new price level, often in the context of securities, goods, or services to reflect changes in market conditions.

European Call Option

A European call option is a type of options contract that gives the holder the right, but not the obligation, to buy an underlying asset at a specific price only on the expiration date.

Specified Date

A specific calendar date agreed upon as relevant or due for a particular activity or event.