Texas Real Estate Regulations

Becky and Hank enter into a contractual relationship whereby Becky is to purchase Hank's house for $80,000. Subsequently, Hank receives an offer from Jude to purchase the same house for $90,000. Hank agrees to a backup contract with Jude. If the contract between Becky and Hank terminates for any reason, Hank can proceed with the contract with Jude. This is referred to as a: condition precedent condition subsequent condition intermediate condition superseding Ted, an owner of a home, has a note with a bank that he obtained when he purchased the home. Ted enters into a sales contract with Jennifer whereby Ted will transfer the duties he has under the contract with the bank to Jennifer. Jennifer will be primarily responsible for payment on the note, but the bank will continue to hold Ted secondarily responsible on the note unless he is released from liability. If the bank substitutes Jennifer on the note but refuses to release Ted from liability, this is referred to as a(n)x substitution accord and satisfaction breach of contract novation