48. IF A CONTRACT CONTAINS EITHER AN EXPRESS OR IMPLIED CONDITION SUBSEQUENT, AND IF THE SPECIFIED CONDITION THEREAFTER DOES OCCUR, THIS MEANS THAT BOTH PARTIES: (A) MUST NOW 80 AHEAD AND PERFORM THEIR OBLIGATIONS (B) ARE NOW FREED OF THEIR OBLIGATIONS UNDER THE CONTRACT (C) ARE NOW FREED OF THEIR OBLIGATIONS IF-AND ONLY IF-THEY MUTUALLY AGREE TO CANCEL THE CONTRACT