A Concurrent Condition Arises When

question 1

Multiple Choice

A concurrent condition arises when:

• A) it terminates an already existing duty of performance.
• B) it makes a difference to the promisee when the promisor acts on time.
• C) it is unexpressed but understood to be part of the contract.
• D) the duty to perform the contract is simultaneous.
• E) the condition is stated in words in the contract, orally or written.

---

Definitions:

Future Value

The amount of money an investment is expected to be worth in the future, taking into account interest or gains.

Student Loan

A type of loan designed to help students pay for higher education and its related costs, such as tuition, books, and living expenses.

Compounded Semiannually

Interest calculation technique where interest is added to the principal sum twice a year, enhancing the base amount for future interest calculations.

Present Value

The existing value of a future amount of money or series of payments, factoring in a chosen rate of return.