Question

48. IF A CONTRACT CONTAINS EITHER AN EXPRESS OR IMPLIED CONDITION SUBSEQUENT, AND IF THE SPECIFIED CONDITION THEREAFTER DOES OCCUR, THIS MEANS THAT BOTH PARTIES:

(A) MUST NOW GO AHEAD AND PERFORM THEIR OBLIGATIONS

(B) ARE NOW FREED OF THEIR OBLIGATIONS UNDER THE CONTRACT

(C) ARE NOW FREED OF THEIR OBLIGATIONS IF-AND ONLY IF-THEY MUTUALLY AGREE TO CANCEL THE CONTRACT

Answer 1

An express condition can be defined as is the manifested intention of both the parties. They are by agreement of the parties under a written contract. While an implied condition can be defined as the conditions or warranties which are presumed by law to be present in the contract even if they have are not expressively put into words. If the condition mentioned in the contract with respect to implied or expressed contract is met it becomes obligatory and compulsory for the parties to execute their obligations.

So, the correct answer is Option A.

IF A CONTRACT CONTAINS EITHER AN EXPRESS OR IMPLIED CONDITION SUBSEQUENT, AND IF THE SPECIFIED CONDITION THEREAFTER DOES OCCUR, THIS MEANS THAT BOTH PARTIES:

(A) MUST NOW GO AHEAD AND PERFORM THEIR OBLIGATIONS