Examlex
The unemployment rate was falling during all of the years that I was a student, but as soon as I graduated, the unemployment rate started to rise. Therefore, the job market was waiting until I started looking for employment to start to go bad. This statement is an example of
Condition Precedent
A specific event or action that must occur before a contract becomes binding or a party is required to perform their contractual obligations.
Duty
A legal or moral obligation to do or refrain from doing something.
Contractual Obligations
Duties that a party is bound to perform under a contract.
Operation of Law
Operation of law refers to a legal change that occurs automatically due to the application of existing law, without the need for any direct action by the parties involved.
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