This question is from Artin Algebra:
Artin gives this proof of why we can get rid of parentheses in composition if associativity is assumed:
What I can't understand is what these sentences have to say:'If a product satisfying (iii) exists, then this formula gives the product because it is (iii) when $i=n-1$. So, if the product of $n$ elements exists, it is unique.' Also, do we get to know whether a product satisfying (iii) exists till the end of the proof?

We are looking for a product that has certain properties. Property (iii) consists, in fact, of $n-1$ properties:
So, Artin uses the last of these properties to define $[a_1\ldots a_n]$ and then he proves that it satisfies all the others.
Besides, the product, defined this way, must be unique, because he is assuming (induction hypothesis) that $[a_1\ldots a_{n-1}]$ is unique.