Sections
9 entriesSection 1434Defines a conditional obligation as one in which a party’s rights or duties depend on the occurrence of an uncertain event. The…Section 1435Defines contractual conditions as falling into one of three categories: precedent, concurrent, or subsequent. The provision establishes the basic classification used by…Section 1436Defines a condition precedent as a condition that must be performed before a dependent right accrues or before an act that depends…Section 1437Defines concurrent conditions as conditions that are mutually dependent and must be performed at the same time. Each party’s required performance is…Section 1438Defines a condition subsequent as one tied to a future event whose occurrence makes an obligation no longer binding on the other…Section 1439Requires a party seeking another party’s performance to first satisfy all conditions precedent imposed on the requesting party and to be able…Section 1440Allows a party to enforce an obligation without first performing or offering to perform conditions owed to a counterparty who, before default,…Section 1441Establishes that a contractual condition is void when its fulfillment is impossible or unlawful within the referenced rules governing contract objects, or…Section 1442Requires a condition involving forfeiture to be interpreted strictly against the party for whose benefit the condition was created. The rule directs…