Answer:
The answer is: Terms and conditions
Explanation:
The terms and conditions of a contract identify the rights and responsibilities of both parties involved. They can be very general (i.e. the terms and conditions you accept when using an phone app) or they can be very specific (i.e. price, payment, penalties, etc).
One special condition specific to this contract is that in order for the contract to be binding, one party (Ahmed family) must first sell their current home within thirty days. If this condition is not met within the time frame, then any of the parties involved in the contract can desist or back down from it apparently without any type of penalty.
This doesn´t mean that the sale of the house can not happen if the Ahmed family can´t sell its house fast enough. They can still buy the Miller family´s house at the same conditions or under new terms. The Miller family is free to ask for a new price or any different sale condition if they want.
This type of condition is sometimes used in real state contracts because of the amount of time involved in those types of transactions.
Transactions that are numerous and complicated, users who are separated from accounting records by distance and time, financial judgments that are significant to users and investors, and time-sensitive decisions are some of the underlying factors that drive demand by users for trustworthy information.
An agreement that has been fulfilled between a buyer and a seller to trade goods, services, or financial assets in exchange for cash is referred to as a transaction. In corporate accounting, the phrase is also frequently used. This simple definition can be difficult to apply in business bookkeeping. Depending on whether a corporation employs accrual accounting or cash accounting, a transaction may be recorded by it sooner or later.
To know more about transaction.
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I would say that this would be a guaranteed dividend stock on preferred shares because it must be paid on a regular basis as an obligation, and it would take precedence over other payments. Such a dividend is cumulative which means that if a payment is missed, no common stock payments can be made until that dividend is paid.