Contracts
In Connecticut, a purchase and sale agreement that is contingent on the buyer obtaining a satisfactory inspection is best described as what type of contract before the inspection period expires?
AA void contract
BAn executory contract with a condition precedent✓ Correct
CA fully executed contract with no remaining conditions
DAn unenforceable contract
Explanation
An executory contract is one that has been signed but has not yet been fully performed. A contingency (inspection, financing) is a condition precedent that must be satisfied before the parties are obligated to proceed. Until the contingency is cleared, the contract is executory with a condition precedent.
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