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Question

A contract, such as an insurance contract, requiring that certain acts be performed if recovery is to be made is known as?

A Conditional Contract Correct Answer Incorrect Answer
B Conditional Receipt Correct Answer Incorrect Answer
C Conditional Renewable Correct Answer Incorrect Answer
D Consequential loss Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

A legal agreement that requires the prior performance of another agreement or clause in order to be enforceable. A conditional contract remains conditional and performance under its terms is suspended until the required conditions are met.

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