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Discussions Trans-Lex Administrative Information Document-ID: 936500 [click here to copy citation to clipboard] Please Cite as: "http://www.trans-lex.org/936500". Social Networks
No. IV.6.10 - Conditions(a) A condition is a term in a contract, to the effect that on the occurrence, or non-occurrence of an uncertain event, act, or forbearance, a right shall arise, or cease to exist. (b) A condition, on the occurrence of which a right is to arise, is called a "condition precedent" (or "suspensive"); a condition on the occurrence of which a right is to cease to exist, is called a "condition subsequent" (or "resolutive"). Trans-Lex Commentary [open]Please click below for (full) text references [doctrine] [national legislation] [principles / restatements]There are no Threads related to this document. Open one by yourself. |
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Please cite as: "Commentary to Trans-Lex Principle No. IV.6.10 - Conditions, http://www.trans-lex.org/936500"
The Principle deals with the two kinds of contractual conditions. While a condition precedent is agreed upon by the parties as a condition on the occurrence of which a contractual right is to arise, a condition subsequent is a condition on the occurrence of which a right is to cease to exist.