Which of the following best describes a conditional contract?

A conditional contract is characterized by the requirement that certain conditions must be met before the obligations of the contract become enforceable. In this context, it means that the performance of certain duties or actions is contingent upon the occurrence of specific events or fulfillment of particular conditions. This type of contract outlines the expectations of both parties and clearly states that if the conditions are not met, then the contract may not be executed or enforced.

For example, in insurance contracts, coverage might only be in effect once the insured meets certain criteria, like paying premiums or undergoing a medical examination. Thus, the concept of a conditional contract hinges on these prerequisites and is foundational in many types of agreements, particularly in the insurance domain. This is what distinguishes it from contracts that may require no conditions for enforcement or that promise guaranteed outcomes without contingencies.