Conditional Consideration
/kənˈdɪʃənəl ˌkɑnsɪdəˈreɪʃən/
Definitions
- (n.) A promise or payment contingent upon the occurrence of a specified event, forming part of a contract's terms.
The conditional consideration depended on the buyer securing financing within 30 days.
Forms
- conditional consideration
Related terms
See also
Commentary
Conditional consideration is a crucial concept in contract law, often distinguishing enforceable promises from mere agreements; drafters should specify clearly the triggering event to avoid ambiguity.
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.