term:

Condition

condition n

1 : an uncertain future act or event whose occurrence or nonoccurrence determines the rights or obligations of a party under a legal instrument and esp. a contract
;also
: a clause in the instrument describing the act or event and its effect

concurrent condition
: a condition that is to be fulfilled by one party at the same time that a mutual condition is to be fulfilled by another party

condition implied in law
: constructive condition in this entry

condition precedent
[-pri-sēd-nt, -pre-sə-dənt]
: a condition that must be fulfilled before performance under a contract can become due, an estate can vest, or a right can become effective

condition subsequent
: a condition whose fulfillment defeats or modifies an estate or right already in effect or vested or discharges an already existing duty under a contract

constructive condition
: a condition created by operation of law called also condition implied in law compare express condition in this entry

express condition
: a condition created and explicitly stated by the parties to a contract compare constructive condition in this entry

potestative condition
[pō-tes-tā-tiv]
in the civil law of louisiana
: a condition whose fulfillment was completely within the power of the obligated party NOTE: article 1770 of the louisiana civil code eliminates the term potestative condition, stating that suspensive conditions which depend on the whim of the obligated party make the obligation null, and that resolutory conditions which depend on the will of the obligated party must be fulfilled in good faith.

resolutory condition
[re-zə-lü-tə-rē-, ri-zÄ l-y-tōr-ē-]
in the civil law of louisiana
: a condition that upon fulfillment terminates an already enforceable obligation and entitles the parties to be restored to their original positions see also potestative condition in this entry

suspensive condition
in the civil law of louisiana
: a condition which must be fulfilled before an obligation is enforceable see also potestative condition in this entry
2 : a state of being [a latent defective ]
3 : one of the rights or obligations of the policyholder or the insurer set forth in an insurance policy
conditional adj

conditionally adv

vt conditioned
conditioning
: to make subject to conditions [the sale…was orally conditioned upon approval of the patent "j. d. calamari and j. m. perillo"]

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.