TBD | Glossary | "Condition"

1. A prerequisite or requirement;

2. A possible future event, which will trigger the duty to perform a legal obligation or will cause a real property interest to arise, vest or be extinguished.

CONCURRENT CONDITION a condition precedent that exists only when parties to a contract are obligated to perform at the same time

CONDITION PRECEDENT an act or event that must occur before a duty of immediate performance of a promise arises, or before a real property interest will arise or vest.

CONDITION SUBSEQUENT a fact that will extinguish a duty to make compensation for BREACH OF CONTRACT after the breach has occurred, or whose occurrence will result in the extinguishment of an interest in real property

CONDITION

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TBD 1.037

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