condition


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condition

A future and uncertain event that determines whether or not there will be a contractual obligation or liability. Conditions may be express or implied, possible or impossible, lawful or unlawful, affirmative or negative, precedent or subsequent, positive or negative, and, finally, single, copulative,or disjunctive.Each type of condition has different legal consequences.

Examples of the most common types encountered in real estate are

• Express. If the purchaser cannot obtain financing, the purchaser may cancel the contract.

• Implied. If the seller burns down the house the day before closing, the purchaser may cancel the contract.

• Lawful. If the broker produces a buyer willing and able to pay the asking price, the seller will pay a commission of 6 percent of that price.

• Unlawful. If the broker produces a buyer willing and able to pay at least $125,000, the broker will be paid all the purchase price in excess of $125,000.

References in periodicals archive ?
Meng-Yu Chen, M.D., from the CDC in Atlanta, and colleagues used data from the 2016 National Survey of Children's Health to estimate the prevalence of heart conditions among U.S.
Description: Cram Session in General Medical Conditions: A Handbook for Students & Clinicians is a succinct and descriptive quick reference that provides the rehabilitation professional with a very basic approach to understanding various general medical conditions.
* a target section for permanent attachment to a landing area on another portion of the article, when the fastener is in the closed condition and conditions thereafter, a fastening section connected to the target section when the fastener is in conditions prior to the opened condition; disconnected from the target section when fastener is converted from the closed condition to the opened condition, and attachable to and from the target section when the fastener is converted between the re-closed condition and the re-opened condition;
Statistically, the average planning consent has eight conditions. However, there can and invariably are, far more, particularly on large-scale developments.
to the heat and harsh conditions. Louis Sachar, Holes>
In this analysis, we show that the fractions can only be interpreted as shares if(l) the true underlying generating function is additively separable or (2) conditions are mutually exclusive (i.e., only one condition per person).
From time immemorial, we have creatively used all modes of artistic expression to articulate the myriad aspects of our human condition and experience.
As was the case in Erickson Post, this would appear to be a current obligation subject to a condition subsequent.
Using this data in conjunction with past findings, the optimal conditions for the application of boron nitride were found to be:
The second condition requires that the currently permitted use or bulk would not provide the owner with a reasonable return from the property.
The quasi-static condition is a situation where a measurement is taken in a manner to reflect as close as possible, a static condition.
While most group disability policies include a provision that limits benefits paid for mental and nervous conditions, the definition of mental illness is often ambiguous.