Condition precedent: Difference between revisions
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Revision as of 14:19, 23 October 2012
1. A condition of a loan agreement which must be satisfied before the loan may be drawn down.
2. More generally in contract law, a contractual condition which must be satisfied, before a party becomes legally obliged to perform their side of the contract.
3. Even more generally, any event which must happen first, before another event can happen.
See also