Which of the following best describes a conditional release of a contract?

A conditional release of a contract refers to a situation where the release from the contract’s obligations is dependent on certain conditions being fulfilled. This means that obligations must be met in order for the release to take effect. In other words, the parties involved have agreed that their release from the contract is contingent upon specific actions or events occurring, making it a conditional process.

In this context, fulfilling these obligations is necessary for the finalization of the release; simply intending to release or having a verbal agreement would not suffice. Therefore, the conditional release cannot happen unless all parties comply with the necessary terms laid out in the contract. The concept implies a clear understanding of the conditions that need to be addressed before concluding the contractural relationship.

Given this understanding, the options that suggest no obligations are needed, reliance solely on verbal confirmation, or that the release must be in writing do not capture the essence of what a conditional release entails.