Conditional Contract
/kənˈdɪʃənəl ˈkɒntrækt/
Definitions
- (n.) A contract whose performance depends on the occurrence of a specified condition or event.
The sale was a conditional contract subject to the buyer securing financing.
Forms
- conditional contracts
Related terms
See also
Commentary
Conditional contracts require careful drafting to clearly specify the triggering condition and the parties' obligations upon its occurrence.
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.