Law of Commerce
I need an essay in the following subject:
Then:
In the ((SELECT COUNTRY)) choose: United Arab Emirates
In the ((COMPARISON COUNTRY)) choose: Saudi Arabia
2)Identify and describe some of the cultural differences in the two chosen countries and how it affects
leadership practices.
3) Analyze the effect such cultural features have on leadership practices.
4) Evaluate the effectiveness of your own country�s leadership practices with regard to acknowledging
and understanding these two other cultures.
LAW OF COMMERCE 2
Condition Precedent and Conditions Subsequent
There are two types of conditions that affect the contractual agreements between persons
namely; conditions precedent and conditions subsequent. When the satisfaction of the buyer is
needed before the sale takes place, it then meets the threshold of condition precedent. In this
case, the buyer has the power to cancel the deal whenever he realizes that the conditions does not
meet his expectations, whether it involves financing, appraisal, inspection, insurance, or any
other deal. In case of condition precedent, the buyer may waive compliance and precede ways
and the buyer usually gets his deposit back (Tepper, 2011). On the other hand, condition
subsequent is whereby the deal between the buyer and the seller continues, not unless the buyer
gives notice that calls for the stop of the deal. In condition subsequent, there is no waiver but the
buyers usually get his deposit back. True condition precedent arises when the contractual
relationship demands for a lawful object of the agreement with necessary third party involvement
LAW OF COMMERCE 3
such as the pre-sale of condos and the subsequent and the subsequent enforceability of the
agreement.
Unlike condition precedent, condition subsequent is more risky since no paperwork is
required during its clean and simple procedure. In condition precedent, no news is good news
and the deal proceeds despite one party not paying attention that would terminate the whole
transaction. In most cases, the real estate agents use condition precedent in their transactions
since the satisfaction of the buyer is critical to the success of their business deal (Tepper, 2011).
On the other hand, lawyers mostly use condition subsequent in their clauses to enhance vigilance
and ensure that the transaction is properly monitored. True condition precedent are characterized
by third party decision making and inability to effect a single party waiver, which only applies in
the case of true condition precedent.
Reference
Tepper, P. (2011). The Law of Contracts and the Uniform Commercial Code. Cengage Learning;
2 edition
