A Condition or Specific Event That Must Occur Before an Agreement

question 8

Multiple Choice

A condition or specific event that must occur before an agreement or obligation becomes binding is:

• A)A condition precedent
• B)A condition subsequent
• C)A defeasance
• D)An advancement

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Definitions:

Penny Pinching

The act of being very careful with money, often by trying to reduce spending.

Seed Money

Initial funding used to start a business, often provided by angel investors, friends, or family.

Resources

Assets, materials, or other necessities that are available for use or could be used to achieve goals.

Crowdfunding

The practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.