4. Past Exam question After an hour of negotiations with your local car dealer, you entered a written contract to purchase a car from that dealer for $25,000. The contract requires you pay a deposit of $5,000 (which you provide) and payment of the balance in a fortnight's time when the car is delivered to you. Required Explain whether you agree or disagree with the following statements, referring to contractual rules and definitions, as well as to cases or legislation (where applicable): (a) Your contract contains a 'condition precedent'. ( 2 marks) (b) Your contract is subject to the Parole Evidence Rule. (2 marks) (c) The term in the contract specifying the purchase price of $25,000 is more likely to be a warranty rather than a condition ( 2 marks)