What is condition subsequent and precedent?
What is condition subsequent and precedent?
A condition subsequent is a philosophical and legal term referring to a defined event which terminates a proposition or a contractual obligation. In contrast to a condition precedent, a condition subsequent brings the event (or obligation) to an end, rather than being necessary for to the event or obligation to occur.
What does a fee simple with a condition precedent mean?
A “fee simple subject to condition precedent” is a type of fee simple defeasible estate that requires that a specific condition be met to keep the estate. This type of ownership lasts as long as that condition is satisfied.
How do you identify a condition precedent?
In a contract, a condition precedent is an event that must occur before the parties are obligated to perform. For example, an insurance contract may require the insurer to pay to rebuild the customer’s home if it is destroyed by fire during the policy period. The fire is a condition precedent.
What is expressed condition?
The term express condition refers to an explicit contractual provision under which either: (1) A party to a contract does not come under a duty to perform unless and until a designated state of affairs occurs or fails to occur, or (2) If a designated state of affairs occurs or fails to occur a party’s duty to perform a …
What are conditions precedent to drawdown?
a) Drawdown can only be made when all conditions precedent stipulated in clause 1 and 2 of this agreement have been met. b) Drawdown on the loan may be made as and when required provided the request is in writing and executed by the duly authorised signatories of the Borrower.
What can you buy at Big W?
Shop for a great range of products for women, men, kids and babies as well as toys, home, electronics, gaming, DVDs and more at everyday low prices. With a network of over 180 stores throughout Australia and an online shopping website, Big W offers variety, great prices and convenience for everyone.
What does Big W stand for?
1. General 1.1 The Site is a shopping website provided by Woolworths Group Limited (ABN 88 000 014 675) trading as BIG W (“BIG W”, “us” or “we”) where you can browse, select and purchase products sold by BIG W (“Products”).
How many Big W stores are there in Australia?
With a network of over 180 stores throughout Australia and an online shopping website, Big W offers variety, great prices and convenience for everyone. Redemption: In store and online at Big W. Australian redemption only. We’re changing the way you send and receive digital gift cards!
