If a Contract States That the Contract Is "Subject to the Purchaser

Multiple Choice

If a contract states that the contract is "subject to the purchaser obtaining financing for $10,000 at 8% by 5:00 p.m. Friday, March 11," it means that

A) there is a contract whether the purchaser gets the financing or not, because the statement is just a statement of intention and doesn't affect the contract.
B) the obtaining of financing is a condition subsequent and ends the contract.
C) if the purchaser does not obtain the financing, the contract is frustrated.
D) if the purchaser does not obtain the financing, he is in breach of contract.
E) if the purchaser does obtain the financing and properly notifies the seller, the contract is then in full force and effect.