condition
A condition is part of an Agreement of Purchase and Sale which instructs a party to do something (or forbids them from doing something) in order to firm up the Agreement or prevent it from being nullified. (Two examples are arranging a mortgage loan or having an inspection performed.) Five elements are necessary to create a condition: what must be done, who must do it, who must pay for it, a deadline, and what happens if it is not done. There are two kinds of condition, “condition precedent” and “condition subsequent”.
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