Sherry and Gretchen Orally Agree That Sherry Will Begin Paying

question 3

Multiple Choice

Sherry and Gretchen orally agree that Sherry will begin paying Gretchen $500 per month,but if ABC Corp.dissolves,Sherry will no longer have to pay Gretchen.ABC Corp.dissolves and Sherry promptly stops making any future payments to Gretchen.Which of the following statements is true?

• A)If Gretchen sues Sherry,Sherry will bear the burden of proving the occurrence of the condition.
• B)This is an example of a condition precedent.
• C)Gretchen cannot sue Sherry because the agreement was not in writing.
• D)Gretchen's only course of redress is to bring an action against ABC Corp.

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Definitions:

Competitors

Other businesses or individuals offering similar products or services in the same market, vying for the same customer base.

Convenient Locations

Places that are easily accessible to customers, often chosen by businesses to enhance visibility and accessibility, leading to increased customer traffic.

Customer Relationship Management

A strategy for managing an organization's interactions with current and potential customers, often using data analysis to study large amounts of information.

Private-label Merchandise

Products that are manufactured or provided by one company for offer under another company's brand, often found in retail to offer exclusive branding options to the retailer.