Contract Condition
/ˈkɒntrækt kənˈdɪʃən/
Definitions
- (n.) A stipulation or prerequisite within a contract that must be satisfied for the contract to be enforceable or for certain obligations to arise.
The contract condition requiring delivery by June 1st was not fulfilled, voiding the seller’s obligation.
- (n.) A contingent term that suspends or affects contractual duties until the occurrence of a specified event.
The contract condition precedent was the buyer securing financing before the sale could proceed.
Forms
- contract condition
- contract conditions
Related terms
See also
Commentary
Contract conditions often distinguish between precedent and subsequent types, which affect when obligations arise or end; careful drafting clarifies these to avoid disputes.
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.