Eton and Fiona Sign a Contract by Which Eton Agrees

question 47

Multiple Choice

Eton and Fiona sign a contract by which Eton agrees to deliver a washing machine on July 31 in exchange for Fiona's promise to pay the $500 purchase price on July 31.The delivery of the washing machine and the payment of $500 are examples of

• A)conditions precedent.
• B)concurrent conditions.
• C)conditions subsequent.
• D)speculative conditions.

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Definitions:

Uncontrollable Factors

External elements or conditions that cannot be directly managed or influenced by an organization, often affecting strategic planning and performance.

Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price.

Supply

The total amount of a specific good or service that is available to consumers at a given price point and time.

Complements

Goods or services that are used together, where the use or value of one increases the use or value of the other.