Conditional Agreement
/kənˈdɪʃənl əˈɡriːmənt/
Definitions
- (n.) A contract or agreement whose enforceability depends on the occurrence or non-occurrence of a specific condition or event.
The sale was finalized under a conditional agreement contingent on the buyer securing financing.
Forms
- conditional agreements
Related terms
See also
Commentary
Conditional agreements are common in commercial transactions and should clearly specify the triggering condition to avoid ambiguity in enforcement.
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.