An Example of a Condition Precedent in a Home Purchase

question 64

True/False

An example of a condition precedent in a home purchase contract is that the buyer must qualify for financing first.

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Definitions:

Unit Cost

The expenditure a business incurs in the production, storage, and distribution of an individual unit of a certain product or service.

Deadweight Loss

A loss of economic efficiency that occurs when the optimal quantity of a good is not produced.

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

European Countries

Nations located on the continent of Europe, known for diverse cultures, languages, and economies.