Readiness Condition
/ˈrɛdɪnəs kənˈdɪʃən/
Definitions
- (n.) A stipulated prerequisite in a legal or contractual framework that must be satisfied before obligations become enforceable or a particular legal status arises.
The readiness condition for the merger required all regulatory approvals to be obtained beforehand.
Forms
- readiness condition
- readiness conditions
Related terms
See also
Commentary
Readiness condition is often used interchangeably with conditions precedent but may emphasize the state of preparation or fulfillment necessary before a contractual duty arises.
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.