Which of the following best describes the relationship in a conditional contract?

In a conditional contract, there are specified conditions that must be met for the obligations of the parties to be activated. The concept revolves around the idea that the performance or fulfillment of one party's obligations is contingent upon the occurrence of a particular event or condition.

In this context, both parties are interconnected through their obligations; one party's duty to perform may hinge on the other party's actions or the fulfillment of a condition. For example, in an insurance contract, the insurer's obligation to pay a claim is conditioned upon the insured fulfilling their duties, such as making premium payments or reporting a loss in a timely manner.

This establishes a joint obligation where both parties have something to fulfill based on the agreed-upon conditions, reinforcing the cooperative nature of such contracts. The relationship is not one-sided—each party has a role that depends on the other, clearly defining their mutual responsibilities under the terms of the contract.