Condition Precedent
Categories: Regulations, Metrics
Things happen. That’s life.
But sometimes, something else must happen before another event can occur. A condition precedent is something that must occur before a contract can move forward. If A, then B.
For example: A termite inspection of the house must happen before an offer to buy (a contract) can move forward. If the termite inspection happensl, and no termites are in residence, the offer for the house can be accepted, the loan approved, the movers booked.