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:

Collective Goods

Benefits or goods that are shared and cannot be denied to anyone within a community or society, such as clean air or public safety.

Membership Association

An organization founded and funded by members who share a common interest or goal, offering various benefits to members such as resources, networking opportunities, and advocacy.

Collective Good

A collective good, also known as a public good, is something that benefits all members of a community or society and is not diminished by individual use.

National Defense

The policies and actions taken by a country to protect itself against external threats.