Condition precedent


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(Law) a condition which precede the vesting of an estate, or the accruing of a right.

See also: Precedent

Webster's Revised Unabridged Dictionary, published 1913 by G. & C. Merriam Co.
References in periodicals archive ?
The Purdons alleged as an affirmative defense that mediation was a condition precedent to filing a suit, and that the condition had not been fulfilled.
A condition precedent inserted into the agreement was that Norilsk entered into a settlement agreement with the liquidator before the funds were paid, but so far the two parties had failed to reach an agreement as the liquidator believed that Norilsk Nickel was not the creditor, the minister said.
In addition, the Claimant should have proved that the condition precedents occurred when he initiated his claim to demonstrate that the acknowledgment became binding i.e.
"However, the project proponent/user agency apparently started the process of felling/cutting of trees without complying with the directions regarding condition precedent of planting trees before undertaking cutting of trees," Hussain added in the letter.
If (defendant) proves this, then (claimant) must prove that (insert condition precedent) [was performed] [occurred] [was waived].
In the 2008 case Aspen Insurance v Pectel Ltd the notification clause of a policy was adjudged to be a condition precedent by the application of a catch-all policy clause that stated: "The liability of underwriters shall be conditional on the assured paying in full the premium demanded and observing the terms and conditions of this insurance."
The Tax Court stated that "[t]he determination of whether a transfer of funds constitutes a loan is a question of fact" It explained that, "[i]n order for a transfer of funds to constitute a loan, at the time the funds are transferred there must be an unconditional obligation (i.e., an obligation that is not subject to a condition precedent) on the part of the transferee to repay, and an unconditional intention on the part of the transferor to secure repayment of, such funds" (emphasis added).
The requirements in the standard insurance policy that the insured shall give notice of loss and make proof of loss are condition precedent to the right to sue, but a failure to give the notice or to make the proof within the time stipulated will not invalidate the policy, or work a forfeiture of the rights of the insured, in the absence of a stipulation to that effect, hut will merely postpone the day of payment, where such notice is given and proof of loss made within the such time as will enable the insured to bring his suit within the time limited by the policy.
2d 100, that distortion of income was not a "condition precedent" to the Tax Commission requiring combined reporting in the "intercompany transaction situation."
Accordingly, the Company has now obtained the requisite shareholders' approval such that the remaining transaction specific condition precedent to completion is the obtaining of the applicable TSX-V approval.
A contract employee who said only that he would "not be opposed" to mediation, but didn't actually request it, didn't satisfy a condition precedent for suing.