Condition precedent: Difference between revisions

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]].

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.   

:“[[Conditions precedent]]?”