A condition subsequent is one in which the parties agree that the contract will be terminated when a prescribed event occurs or does not occur.

Question

Quizplus · Accepted Answer

For example, an agreement between a builder and a client stating that contract performance would terminate if a required building permits were not obtained from the issuing public authority within 60 days after the contract is signed is a condition subsequent.

A Condition Subsequent Is One in Which the Parties Agree