Examlex
Which of the following is a difference between independent variables and status variables?
Condition Precedent
A contractual requirement that must be fulfilled before a party's obligation or right comes into effect.
Constructive Condition
A condition presumed by law to exist in a contract, even if not explicitly mentioned, to ensure fairness and fulfill the intention of the parties.
Concurrent Condition
In contract law, these are conditions that must occur or be performed at the same time by both parties involved in a contract.
Strict Performance
The requirement that a contract be executed precisely as agreed, without any deviations or allowances.
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