In a Condition Subsequent,the Duty of Performance Is Discharged Upon

question 67

True/False

In a condition subsequent,the duty of performance is discharged upon the failure to meet a condition after the duty has already arisen.

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Definitions:

Security Interest

A legal claim on assets granted to a creditor to secure a loan, providing the creditor rights to the collateral if the debtor defaults.

Encumbrances

Legal claims or liens on a property or asset that may affect the title or restrict the owner's ability to use the property freely.

Bailiff

An official who performs certain actions under legal authority, such as executing writs, serving legal documents, or enforcing court orders and judgments.

Title Pass

Title Pass refers to the transfer of ownership rights from one party to another, often involved in the sale and purchase of property or goods.