When each party's performance is conditioned on the other party's performance,concurrent conditions are present.

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This is because concurrent conditions refer to situations where both parties have a duty to perform, and the performance of one party is conditioned on the performance of the other party. In other words, the obligations of both parties are independent and concurrent, and neither party can be required to perform until the other has performed or offered to perform.

When Each Party's Performance Is Conditioned on the Other Party's