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Korbyn enters into a contract with Peyton to sell Peyton a 1956 roadster. The contract has a condition precedent that the roadster will pass inspection
Korbyn enters into a contract with Peyton to sell Peyton a 1956 roadster. The contract has a condition precedent that the roadster will pass inspection by an independent appraiser, verifying that the roadster contains all original parts and is in good working order. This contract provision means that: if the appraisal is not satisfactory to both parties, the contract price will be adjusted accordingly. Peyton must pay for the roadster at the time of contracting, and Korbyn will then order the appraisal. Peyton is not required to perform under the contract until the appraisal is complete. Peyton must have the appraisal completed within thirty days of performing the contract and provide the results to Korbyn
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