Question

Antonio owns property on which a gasoline station once stood. Josh agrees to buy the land so that he can build an office on it. They include language in the contract making the purchase contingent on a determination that there are no environmental problems with the property. The contingency represents:

Answer 1

Answer:

Condition precedent

Explanation:

Condition precedent is the affair or the event which is needed before something else will happen. Under the law of contract, it is an event which need to happen, unless its non- occurrence is excused, before the performance in the contract becomes due, in short, means before any existence of contractual duty.

For example, the person will paint the house if the owner would supply the paint. And if the condition precedent would not fulfill then their will no performance of duty.

So, in this case, the contingency which is states or represented is the condition precedent.