If the contract requires the occurrence (or nonoccurrence)of an event before a party is obligated to perform a contractual duty,there is a condition precedent.

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A condition precedent is a condition that must be met before a party is obligated to perform under the contract. It is an event or circumstance that must occur or not occur before a contractual duty comes into existence.

If the Contract Requires the Occurrence (Or Nonoccurrence)of an Event