Examlex
Richard contracts with Yuan to buy Yuan's house for $100,000 "unless my horse does not win the Kentucky Derby." This is a condition subsequent,or at least an attempted condition subsequent.Rephrase it as a condition precedent with the same effect.If you can do this,why does the law bother to distinguish conditions precedent from conditions subsequent?
Essential Terms
Critical conditions or clauses within a contract that define the agreement's fundamental obligations.
Online Auction
A digital marketplace where items are sold to the highest bidder through a timed bidding process.
Effective Offer
A proposal that meets all legal requirements and is presented in a manner that a reasonable person would understand its terms, triggering a potential contract.
Good Faith
The honest intention to act without taking an unfair advantage over another party in a transaction.
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