Richard Contracts with Yuan to Buy Yuan's House for $100,000

question 14

Essay

Richard contracts with Yuan to buy Yuan's house for $100,000 "unless my horse does not win the Kentucky Derby." This is a condition subsequent, or at least an attempted condition subsequent. Rephrase it as a condition precedent with the same effect. If you can do this, why does the law bother to distinguish condition precedent from condition subsequent?

---

Definitions:

Average Total Cost

The total cost divided by the number of units produced, representing the cost per unit of output.

Demand Curve

A graph showing the relationship between the quantity of a good that consumers are willing to buy and the price of the good.

Natural Monopolies

Industries or markets in which the production or supply of a good or service is most cost-effective when there is a single provider, due to high infrastructure or entry costs.

Government Regulated

Refers to activities, industries, or services that are controlled or supervised by government agencies to ensure compliance with laws and regulations.