BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A condition precedent is a stipulation that defines certain conditions that must either occur or be met by either party to ensure progress or execution of a contract.

Detailed explanation-2: -In contract disputes, parol evidence is any agreement that is not contained within the written contract. Under the parol evidence rule, these agreements made outside of the contract are inadmissible in court unless there is evidence of fraud, duress, or a mutual mistake.

Detailed explanation-3: -An agreement to agree to the material terms of a contract at some future date may be enforceable. Ordinarily, one can agree to a bargain without knowing that it exists. A contract provision that deprives one party of the benefits of the agreement may seem unfair but a court is not likely to consider it unconscionable.

Detailed explanation-4: -A contract must show mutual agreement, which is also referred to as “a meeting of the minds.” True. A promise to give up something of value that a person has a legal right to keep or to agree to do something that he is not legally required to do is known as consideration.