Which of the following is an example of a condition subsequent?

A condition subsequent is an event or state of affairs that, if it occurs, will terminate one party’s obligation to the other. For example, a contract might state something like: the client will pay for the haircut, unless the hairdresser does not perform the haircut.

What is a condition subsequent in real estate?

condition subsequent. n. 1) in a contract, a happening which terminates the duty of a party to perform or do his/her part. 2) in a deed to real property, an event which terminates a person’s interest in the property.

Which of the following is an example of a condition precedent?

In a contract, a condition precedent is an event that must occur before the parties are obligated to perform. For example, an insurance contract may require the insurer to pay to rebuild the customer’s home if it is destroyed by fire during the policy period. The fire is a condition precedent.

Which is a characteristic of a condition subsequent?

Characteristics of Condition Subsequent

The transfer of property is effected immediately and the interest in such a property vests in the transferee unless the condition subsequent is fulfilled or not fulfilled.

What is condition subsequent in insurance?

A Condition Subsequent (CS) can be defined as a condition which is supposed to be fulfilled or satisfied to excuse a party from the contractual relationship which means creation of an obligation or termination of the contract between the parties due a future uncertain fact or event that may or may not occur.

What is a subsequent agreement?

Definition of subsequent agreement and subsequent practice

1. A subsequent agreement as an authentic means of interpretation under article 31, paragraph 3 (a), is an agreement between the parties, reached after the conclusion of a treaty, regarding the interpretation of the treaty or the application of its provisions.

What is condition subsequent and precedent?

A condition subsequent is a philosophical and legal term referring to a defined event which terminates a proposition or a contractual obligation. In contrast to a condition precedent, a condition subsequent brings the event (or obligation) to an end, rather than being necessary for to the event or obligation to occur.

Who is an universal donee?

A universal donee is a person who gets all the properties of the donor under a gift. Such properties include movables as well as immovables. Section 128 lays down in this regard that the donee is liable for all the debts and liabilities of the donor due at the time of the gift.

What is condition precedent and condition subsequent under transfer of property Act?

A condition precedent is one the fulfillment of which completes an inchoate title. A condition subsequent is one of the fulfillment of which extinguishes a title already completed.

What is an example of a condition?

The definition of condition is the state something or someone is in or can also refer to a specific illness. An example of condition is a brand new sofa with no defects. An example of a condition is a harsh work environment. An example of a condition is a cold or the flu.

What is the difference between a condition precedent and a condition subsequent quizlet?

What is the difference between a condition precedent and a condition subsequent? A condition precedent suspends the parties’ obligations to perform their contractual obligations, and a condition subsequent may bring a contract to an end.

What is a suspensive condition?

A suspensive condition is a condition which suspends the rights and obligations (or the coming into operation of the entire agreement), until a certain future event occurs. Upon the occurrence of the event, the suspended part of the agreement (or the entire agreement) is brought to life.

What is an example of a condition in a contract?

A condition that must be satisfied before, or precedent, to the obligation of the performing duty to act. An example of this condition in contract law would be that I don’t have to pay someone to shovel snow from my driveway until it has snowed and the party has shoveled the snow.

What are the types of conditions?

There are three different forms of conditions. These are: Conditions precedent. Conditions concurrent, and.

What is a condition in a contract law?

A term of a contract which is of such vital importance that it goes to the root of the transaction; essentially it is a major term of the contract. Breach of a condition gives rise to the claimant’s right to terminate the contract (treat the contract as discharged) and claim damages for any loss.

What is condition in contract law?

A condition is a term that, if breached, gives the aggrieved party the right either to terminate the contract or affirm it. In addition, the aggrieved party can also claim damages.

What is a condition precedent law?

In contract law, a term in a contract which provides that the agreement or certain parts of the agreement will only come into force if and when certain conditions are satisfied.

What is a condition in a commercial contract?

A clause that details, in the case. of an existing binding contract, an event following the occurrence of which the contract may be terminated, is known as a condition subsequent.

What are the three types of contractual conditions?

Types of Conditions Conditions precedent, conditions concurrent, and conditions subsequent are types of conditions that are commonly found in contracts. A condition precedent is an event that must exist as a fact before the promisor incurs any liability pursuant to it.

What is a condition precedent quizlet?

Condition precedent: an event that must occur (or be waived) before there is a duty to perform that contact on the part of the party in whose favor that condition runs.

What happens if a condition subsequent is not met?

Failure to meet these obligations could result in civil liability under breach of contract law. Legal obligations may be triggered or terminated depending on certain express conditions written into the contract: conditions subsequent and precedent. Conditions subsequent terminate your contractual obligations.