________ Refers to a Condition Whose Occurrence or Nonoccurrence of a Specific

question 20

Multiple Choice

________ refers to a condition whose occurrence or nonoccurrence of a specific event automatically excuses the performance of an existing contractual duty to perform.

• A)Condition precedent
• B)Condition subsequent
• C)Concurrent condition
• D)Implied condition

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Definitions:

Barter

The direct exchange of goods and services without the use of money as a medium.

Rates Of Exchange

The value of one currency for the purpose of conversion to another.

Barter System

An exchange system in which goods or services are directly exchanged for other goods or services without the use of money.

Goods

Physical items that are produced for sale on the market, which can satisfy human wants or needs, such as food, clothes, and cars.