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Condition precedent: Difference between revisions
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The things you agree to do, or must happen, before the other guy has to do what he said he'd do. Not to be confused with [[consideration]], which is what you give him for doing it. | The things you agree to do, or must happen, before the other guy has to do what he said he'd do. Not to be confused with [[consideration]], which is what you give him for doing it. | ||
So: I agree to lend you my car for ten quid, but before I let you have the keys, you must | So: I agree to lend you my car for ten quid, but before I let you have the keys, you must prove you have insurance. | ||
The ten pounds is [[consideration]]; the insurance certificate is a [[condition precedent]]. | |||
This all reminds me of a story from the [[Jolly Contrarian]]’s youth. | This all reminds me of a story from the [[Jolly Contrarian]]’s youth. | ||