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 ?
Repeatability, reproducibility and sequential use of condition scoring of Bos indicus cattle.
Offers information on taking a nutritional history, body condition scoring, calculating food dosage, types of food options, and communicating with clients
Body condition scoring is a great way to evaluate an animal's fat.
Body condition scoring is a simple useful tool for assessing the nutritional status of the flock.
This included the condition scoring of ewes after weaning, then grouping the ewes to give better grass to the twins.