Mercantile Limited, a Corporation in Toronto, Enters into an Agreement

Multiple Choice

Mercantile Limited, a corporation in Toronto, enters into an agreement with Jackson to advance $300,000 to Jackson for the purchase of farming equipment. Jackson agrees to give Mercantile Limited a mortgage over his home as security for the advance of the money. The terms of the agreement contain an appraisal provision that the commitment to make the loan is subject to an appraisal of Jackson's home of at least $350,000. The appraisal provision is known as

A) a condition term.
B) a condition precedent.
C) a warranty.
D) an implied term.
E) an appraisal warranty.