What Type of Contractual Condition Is the Statement "I'll Buy

question 45

Multiple Choice

What type of contractual condition is the statement "I'll buy your horse if he decides he likes me" an example of?

• A) a fiduciary condition subsequent
• B) a condition precedent
• C) an illusory condition precedent
• D) a condition subsequent

---

Definitions:

Market Exit

The process of a company or business stopping operations or leaving a specific market or industry.

Concentration Ratio

The share of industry output in sales or employment accounted for by the top firms.

Industry Output

The total production or quantity of goods and services produced within a specific industry over a given period.

Top Firms

The leading or most successful companies in a particular industry or sector based on criteria like revenue, innovation, market share, or profitability.