condition precedent
Definition
Express or implied stipulation in a contract that (1) a contracting party must perform its part before it can demand performance from the other(s), or (2) a certain event must occur before a party has right to performance or to demand damages for non-performance. See also conditions concurrent and condition subsequent.
Mentioned in these definitions
Popular 'Agreements & Contracts' Terms
condition precedent in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/condition-precedent.html
