Performance Condition
/ˌpɜːrfɔːrˈmæns kənˈdɪʃən/
Definitions
- (n.) A contractual provision that specifies a condition precedent or subsequent affecting the timing, manner, or occurrence of a party's performance obligations.
The contract included a performance condition requiring delivery within 30 days.
- (n.) In trust or estate law, a condition that must be met before a beneficiary can receive or exercise rights under a trust or will.
The beneficiary's entitlement was subject to a performance condition requiring graduation from college.
Forms
- performance condition
- performance conditions
Related terms
See also
Commentary
Performance conditions are critical in drafting contracts to clarify when or if obligations trigger, helping manage risk and enforceability.
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.