Condition

1. Contract law. An important term of a legal contract which, if breached, entitles the innocent party to terminate the contract as well as claim compensation.

2. More generally, an action, omission or relationship on which another action, omission or relationship is considered to be dependent; but not necessarily being formally linked in law.

See also

• Condition precedent
• Contract
• Final settlement
• Letter of credit
• Warranty