Understanding Condition Precedent For example, in real estate, amortgagecontract will have a condition precedent that an inspection to assess the condition and value of the property must occur. That assessment must be agreed upon by both the buyer and the lender before the mortgage contract takes ...
在加拿大进行房产交易的时候,房产合同中会涉及3种条件,分别是:前置条件(Condition Precedent)、后置条件(Condition Subsequent)和真实条件(True Condition)。 前置条件 Condition Precedent 平常我们做二手房交易的时候,基本上只用前置条件。条件的具体内容可能会包括:贷款条件、验屋条件、大楼报告、买家卖出自己原有的房子,...
As an example, let's assume that you're a teenager who is named in a relative's will. Since you are young, your relative may add a condition precedent to their will that you must complete a college degree before you receive your inheritance. Other condition precedents that can be added ...
A condition precedent is an explicit or implicit clause within a contract that says the other party must accomplish its duty before the contract can move forward. 5 min read updated on September 19, 2022 What Is a Condition Subsequent? A condition subsequent (CS) is an exit clause from an...
On this page, you'll find the legal definition and meaning of Condition Precedent, written in plain English, along with examples of how it is used. What is Condition Precedent? An event or occurrence of a specified thing that is required to happen to perform a particular task.Example- n ...
A future and uncertain event that determines whether or not there will be a contractual obligation or liability. Conditions may be express or implied, possible or impossible, lawful or unlawful, affirmative or negative, precedent or subsequent, positive or negative, and, finally, single, copulative...
This may also refer to contingent conditions, which come under two categories: condition precedent andconditionsubsequent. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. Thus, a fee simple subject toconditionsubsequentdoes not end automatically upon the ha...