Question: Which of the following is a condition precedent?

Options:

1. A condition that must be fulfilled before a contract becomes effective
2. A condition that must be fulfilled after a contract is formed
3. A condition that is implied by law
4. A condition that is not enforceable

Correct Answer: A condition that must be fulfilled before a contract becomes effective

Solution:

A condition precedent is a condition that must be fulfilled before a contract becomes effective.