30/11/16 Condition Precedent and Condition Subsequent

Condition Precedent and Condition Subsequent

  • Condition Precedent

An event or state of affairs that must occur before something else will be required to occur. In a contract, a condition precedent is an event that must take place before the parties must perform the agreement.

  • Condition Subsequent

An event or state of affairs that, if it happens, defeats or modifies an existing arrangement or discharges an existing duty. In a contract, a condition subsequent can often terminate the duty of one party to perform under the agreement.