Conditions Precedent
Definitions
- (n. pl.) Specific conditions or actions that must be fulfilled before a contractual obligation becomes effective or enforceable.
The contract stated that obtaining financing was one of the conditions precedent to closing the deal.
Forms
- condition precedent
Related terms
See also
Commentary
Commonly used in contracts to allocate risk and delineate when obligations arise; care should be taken to clearly specify the conditions 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.