Help with this one and explanation please

By a contract dated April 4, Kim agreed to sell and China agreed to buy from Kim a house located on her ranch in Wyoming. At the time she signed the contract, China transferred a deposit equal to 10% of the purchase price. China's finances were such that she needed to obtain a loan to pay for the full purchase price of the house. Pursuant to the terms of the contract, China was to obtain financing for the house in the amount of $180,000. The contract also stated that if China could not obtain $180,000 in financing from a bank, savings bank, or savings and loan association, then China could cancel the contract and recover her deposit. When China fails to get the loan, Kim demands that China close on the purchase and sale of the house and China demands the return of her deposit. If Kim sues China for breach of contract China will win because a condition precedent to China's obligation to close on the purchase and sale of the house was that she be able to O obtain financing Kim will win because China signed the contract and is therefore bound to perform her obligations under the contract China was released from her obligation to purchase the property due to frustration of purpose China materially breached the contract, thereby discharging Kim from further obligations under the contract and allowing Kim to retain China's O deposit