Contracts
A West Virginia contract clause that states 'this agreement is contingent upon the buyer's inspection and approval within 10 days' is an example of a:
ARepresentation
BWarranty clause
CCondition precedent (contingency)✓ Correct
DPerformance bond
Explanation
A condition precedent (contingency) is a condition that must be satisfied before a party's obligations under the contract become binding. If the condition is not met, the contract may be voided by the party the contingency protects.
Related West Virginia Contracts Questions
- In West Virginia, 'time-is-of-the-essence' language in a real estate contract means that all deadlines are:
- A West Virginia purchase contract that includes a personal property (chattel) list (e.g., refrigerator, washer/dryer) ensures that:
- A West Virginia purchase contract contains a time-is-of-the-essence clause. This means:
- In a West Virginia real estate transaction, an 'escalation clause' in a buyer's offer means:
- In West Virginia, an offer to purchase real estate automatically terminates when:
- Under West Virginia contract law, 'consideration' in a real estate purchase agreement is most commonly provided by:
- In West Virginia, a purchase contract states that the buyer must obtain financing approval within 15 days. On day 17, the buyer is still waiting. The seller may:
- A West Virginia buyer makes an offer specifying that acceptance must be received by 5:00 PM on Friday. If the seller accepts at 6:00 PM on Friday, the acceptance is:
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →