This form provides a boilerplate contract clause authorizing each party's attorney to give notice on behalf of his or her client.
This form provides a boilerplate contract clause authorizing each party's attorney to give notice on behalf of his or her client.
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(i) Condition precedent to liability - Generally speaking, failure to comply with a condition precedent to liability will prevent the insured from making a claim.
Which of the following is the consequence of a condition precedent that did not occur? The contract is in full effect even though the condition precedent did not occur.
If either Party fails to satisfy any of its conditions precedent as set out in this Agreement on or before the Closing Date and that condition precedent was not waived, then this Agreement will be null and void and there will be no further liability as between the Parties.
Example Condition Precedent Should the said licence is not obtained by [date | [time period] from the date of the agreement], this Agreement shall not come into force. It shall be a condition precedent for performance of clause [number] that the Supplier will tender a certificate of insurance for the contracted works.
When sued for breach of contract, a party can attempt to defend by pleading that a condition precedent to its obligations has not occurred, so no duty to perform has yet arisen and no breach has occurred. In essence, then, this is a defense that negates the breach element of the plaintiff's breach of contract case (see.
A 'Condition precedent' ('CP') is a requirement(s) or event that must happen before the contract - or certain parts of it - can come into effect. Put simply, '? I agree to do this, subject to you doing that?'.
A condition precedent is a condition or an event that must occur before a right, claim, duty, or interests arises. A condition precedent is contrasted with a condition subsequent. In a contract, a condition precedent is an event that must occur before the parties are obligated to perform.
?Generally, when a condition precedent is unsatisfied, the corresponding contractual duty of the party whose performance was conditioned on it does not arise.? So if ?a contractual duty is subject to a condition precedent . . .