When a contract is subject to a condition precedent, does the contract nevertheless still exist? May either party simply withdraw from the contract before the condition precedent has been met? Again, consider question 5 above.

Data from in Question 5

State which of the following contracts are affected by a statutory requirement that would permit the promisor to plead that the contract cannot be enforced against her because evidence of the terms is not available in the required form:

a. A and B, having entered into a written agreement as purchaser and vendor, respectively, of a piece of land, later agree by telephone to call off the sale.

b. C enters into an oral contract with D, a contractor, to build a house for C.

c. E is the proprietor of a business that requires a bank loan. E’s father, F, tells the bank manager that if the bank approves the loan and E does not repay it, he (F) will.

d. G, just before she graduates from university, accepts a job at a manufacturing firm. In the exchange of letters between G and her employer, nothing is said about the duration of G’s employment or the need to actually graduate.