Condition precedent: Difference between revisions
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So: I agree to lend you my car for ten quid, but before I let you have the keys, you must give proof you have insurance. The ten pounds is consideration; the insurance certificate is a [[condition precedent]]. | So: I agree to lend you my car for ten quid, but before I let you have the keys, you must give proof you have insurance. The ten pounds is consideration; the insurance certificate is a [[condition precedent]]. | ||
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===The South African credit-linked note and the misunderstood [[sw-æp]]=== | |||
It reminds me of a story from the [[jolly contrarian]]'s youth. It was decades ago, a mild Friday evening in the infancy of the credit derivatives market. It was all to do with a [[note]], credit linked to the republic of South Africa. I had faxed if off to the client, as one did in those days, and was jut putting my jacket on to leave for the weekend. | It reminds me of a story from the [[jolly contrarian]]'s youth. It was decades ago, a mild Friday evening in the infancy of the credit derivatives market. It was all to do with a [[note]], credit linked to the republic of South Africa. I had faxed if off to the client, as one did in those days, and was jut putting my jacket on to leave for the weekend. | ||
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:“[[Conditions precedent]]?” | :“[[Conditions precedent]]?” | ||
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