Michael Products Limited and Jensen Corporation Enter into an Agreement

question 3

Multiple Choice

Michael Products Limited and Jensen Corporation enter into an agreement under which Michael Products Limited agrees to supply 20 tonnes of soap to Jensen Corporation. Jensen agrees to pay $20,000 for the products. The agreement includes a provision to the effect that the agreement is conditional of Jensen providing a letter from a bank, no later than two days after the execution of the agreement, that Jensen Corporation has the funds to pay for the goods. Three days after the signing of the agreement, Michael Products Limited has not provided the letter from the bank.
Jensen Corporation can because _.

• A) terminate the contract; the contract is void
• B) continue with the contract; the contract is not void
• C) walk away from the contract; the contract is void
• D) continue with the contract; the contract is effective

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Definitions:

Three-Dimensional Objects

Objects that have depth, width, and height, enabling them to exist in a space that has three dimensions.

Widespread Storage

The distribution and retention of information or physical items across a broad spectrum of locations or systems.

Hippocampus

A major component of the brain in humans and other vertebrates, involved in memory formation and spatial navigation.

Schemata

Mental structures that organize past experiences and provide a framework for understanding future ones.