Question

Once an agreement has been reached, the person for whom a contingency has been inserted cannot: refuse to exert due diligence to cause the contingency to be satisfied within the time specified in the contract. agree to perform the balance of the contract even though the contingency has not been satisfied.

Answer 1

refuse to exert due diligence to cause the contingency to be satisfied within the time specified in the contract.

What is contract?

A contract is a legally binding agreement that establishes, defines, and governs the mutual rights and obligations of its parties. A contract usually involves the exchange of goods, services, or money, or the promise to exchange any of these at a later date.

The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

A contract for difference (CFD) is a contract between a buyer and a seller in which the buyer agrees to pay the seller the difference between the current value of an asset and its value at the time of the contract.

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Answer 2

Explanation:

refuse to exert due diligence to cause the contingency to be satisfied within the time specified in the contract