A Provision in a Contract Requiring That a Buyer Obtain

question 97

Multiple Choice

A provision in a contract requiring that a buyer obtain financing before a deal can go through is an example of:

• A)a contract with no consideration.
• B)economic duress.
• C)a condition precedent.
• D)None of the above

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Definitions:

Moving Costs

Expenses incurred by individuals or companies when relocating from one place to another, including transportation and packing costs.

Domestic Output

The total value of all goods and services produced within a country's borders in a specific time period, also known as Gross Domestic Product (GDP).

Migration Labor

The movement of workers from one region or country to another in search of better employment opportunities.

Explicit Cost

Funds transferred to parties outside of the company as part of its operational expenses, encompassing staff wages, property lease payments, and material purchases.