Question

Jen agrees to buy Kev's Dirt Bike business on the express condition that Valley Credit Union approves the financing. This approval is:______.

A) a concurrent condition.
B) a condition precedent.
C) a condition subsequent.
D) an implied condition.

Answer 1

B) a condition precedent.

Step-by-step explanation:

A condition precedent is an event or state of affairs that is required before something else will occur. It is a condition precedent because, without the approval of the loan which should come first, Jen would not be interested in buying the Dirt Bike business owned by Kev.