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 ?
Body measurements and body condition scoring as parameters for estimation of live weight in Nili Ravi buffalo Tropentage, September 19-21, 2012 Gottingen- Kassel/ Witzenhausen.
He believes two factors lie behind this increase - greater emphasis on condition scoring the ewes before tupping, and vaccinating against toxoplasmosis.
Nutritional status can be appreciated by Body condition scoring (BCS) which is an accepted, non-invasive, subjective, quick, and inexpensive method to estimate the degree of fatness (Waltner et al.
Expert speakers, David Keiley from the Scottish Agricultural College and Paul Macer from Kite, stressed the importance of body condition scoring cows regularly and reacting early, ensuring they were on target to calve down at condition score three.
Any steps that can be taken to reduce these problems in a herd, such as sire selection and condition scoring, should have a positive effect.