Condition precedent презентация

happen before a contract is in effect.


A condition precedent can also trigger what each person must do under a contract.

does not become effective until the inspector determines that the property passes inspection.
However, if the inspector indicates that the house fails inspection, then there is no binding agreement.

is no one correct way to draft a condition precedent clause

borrower before it may request a drawdown and the lender is obliged to lend.
Unless otherwise provided, the rest of the loan agreement (including any obligation of the borrower to pay fees) will be binding on the borrower on execution of the loan agreement.