condition

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Related to conditioned: conditioned reflex, conditioned response, conditioned stimulus, Conditioned reinforcer

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 ?
Even as officers are conditioned to respond with deadly force, they learn in a disciplined environment where the use of force is tightly controlled and the consequences for an improper or illegal use of force are great.
Ader found to his surprise that, after a period of training, animals that had been conditioned with saccharine and cyclophosphamide over several test periods actually showed immunosuppression even in the absence of the cyclophosphamide treatment when given saccharine alone.
One can pour a gallon of water onto a dry heap of sand and correctly state that the resulting combination is now at 3% moisture, but this doesn't take into account how well the sand has been conditioned.
The financing necessary to complete the merger is conditioned on, among other things, the Company's comparable net sales for the 2005 fourth quarter being not less than negative 6% and the Company's EBITDA (adjusted in certain respects as set forth in the financing commitment) for the fiscal year ending December 31, 2005 being not less than $140 million.
Approval of this application also is specifically conditioned on compliance by Bank and its parents with the commitments made in connection with this application and with the conditions in this order.
The Offer is conditioned on, among other things, (i) the tender in the Offer of at least a majority of the outstanding Shares that are not shares beneficially owned by the management group and the other executive officers of General Bearing (the "Majority of the Minority Condition"), and (ii) the tender in the Offer of a sufficient number of Shares such that, after the Shares are purchased pursuant to the Offer, GBC Acquisition Corp.
Approval of this application also is specifically conditioned on compliance by New Bank with the commitments made in connection with this application and with the conditions in this order.

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