Condition Precedent
/ˈkɒndɪʃən ˈpriːsɪdənt/
Definitions
- (n.) A condition mentioned in a contract that must be fulfilled before a party's obligation becomes effective or enforceable.
The sale agreement included a condition precedent requiring financing approval before closing.
Forms
- condition precedents
Related terms
Commentary
Conditions precedent must be clearly defined to avoid ambiguity about when contractual duties arise.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.