If a Contract States That the Contract Is "Subject to the Purchaser

question 24

Multiple Choice

If a contract states that the contract is "subject to the purchaser obtaining financing for $10,000 at 8% by 5:00 p.m. Friday, March 11," it means that

• A) if the purchaser does not obtain the financing, he is in breach of contract.
• B) if the purchaser does not obtain the financing, the contract is frustrated.
• C) if the purchaser does obtain the financing and properly notifies the seller, the contract is then in full force and effect.
• D) there is a contract whether the purchaser gets the financing or not, because the statement is just a statement of intention and doesn't affect the contract.
• E) the obtaining of financing is a condition subsequent and ends the contract.

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Definitions:

Classical Conditioning

Classical conditioning is a learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, leading to a learned response.

Balloons

Flexible bags that can be inflated with a gas, such as helium, hydrogen, nitrous oxide, or air, and used for decorative, entertainment, or observational purposes.

Classical Conditioning

A technique of learning where repetitive association of two stimuli leads to a response that, while initially induced by the second stimulus, is eventually induced by the first stimulus alone.

Rescorla

Refers to Robert A. Rescorla, a psychologist known for his work on the theory of conditioning and learning.