If M = 5,000, P = 3, and Y =

question 330

Multiple Choice

If M = 5,000, P = 3, and Y = 10,000, what is velocity?

• A)6
• B)1.5
• C)2/3
• D)1/6

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Definitions:

Condition Precedent

A condition in a contract that must be met before a party’s promise becomes absolute.

Condition Subsequent

A condition in a contract that operates to terminate a party’s absolute promise to perform.

Express Condition

A clearly stated, specific requirement within a contract that must be met for the contract to be fulfilled or an obligation to become due.

Contractual Obligation

A duty or commitment that one party is legally required to perform as per the terms of a contract.