What is a condition precedent?
Give three examples. Answer: A condition precedent is a trigger to if and when a duty to perform will ever arise. Examples: If you get an A on your exam, I will buy you a car. If I qualify for a $500,000 mortgage at no more than 7% interest and zero points (points are another charge associated with when you borrow money to purchase a house), then I will buy your house for $550,000. If I like the interior design job you do for me, I will pay your full fee. If I am not personally satisfied with the result, I am only obligated to pay half your fee. *** 2. What is a condition subsequent? How does it differ from a condition precedent? Answer: A condition subsequent is the exact opposite of a condition precedent. Where a promise is subject to a condition subsequent, the duty already exists/is being performed. The occurrence of the event named in the condition subsequent assuming it ever occurs – discharges (or cuts off) that duty. Examples: I agree to pay my ex-spouse Jane $5,000 per month a
