BLAW 2301 Lecture Notes - Lecture 8: Condition Subsequent, Condition Precedent, Force Majeure
Document Summary
Discharge: a party is discharged when she has no more duties under the contract. Rescind - to terminate a contract by a mutual agreement. Condition: an event that must occur ebfore a party becomes obligated under a contract. This has to happen before we go into a contract. No special language is necessary to create the condition, as long as the contract"s lan the parties intend to create a condition, a court will enforce it. Don"t talk about that there are conditions but words and actions imply. It can be clear from their agreement that they implied a condition. If condition does not occur, one party will probably be discharged without havign to perform his contract. An event must occur before a duty arises. You cannot buy the house until you secure financing. If you do not pass the bar exam, you cannot work for the company anymore. Both parties have a duty to perform simultaneously.
