Paul, a Contractor, Has a Contract to Build a New

question 71

Multiple Choice

Paul, a contractor, has a contract to build a new office building for Bill. The contract contains a provision requiring Paul to furnish a certificate of occupancy from the building inspector before Bill is required to pay. This provision is:

• A) an express condition.
• B) an implied-in-fact condition.
• C) an implied-in-law condition.
• D) a condition subsequent.

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Definitions:

Economic Rewards

Incentives or returns, including wages, profits, and benefits, that motivate individuals and firms to undertake certain activities or behaviors.

Economic Development

Economic Development involves efforts that seek to improve the economic well-being and quality of life for a community by creating and retaining jobs and supporting or growing incomes and the tax base.

Population Growth

The increase in the number of individuals in a population over time.