If the contract calls for the parties to perform their duties at the same time, each party's duty to perform is conditioned on the other party's performance. These conditions are called conditions subsequent.

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If the contract calls for the parties to perform their duties at the same time, each party's duty to perform is conditioned on the other party's performance, but these conditions would be called conditions concurrent, not subsequent. Conditions subsequent are those that refer to an event that would terminate or modify the parties' obligations under the contract after the contract has already been executed.

If the Contract Calls for the Parties to Perform Their