Conditions Precedent

Conditions precedent refer to specific requirements or events that must occur before a contract or legal agreement becomes effective. In simple terms, they are like "if this happens, then that can happen" clauses. For example, if you're buying a house, a condition precedent might be that you must secure a mortgage first. Until that condition is met, the sale cannot proceed. These conditions ensure that certain necessary steps are taken or situations are fulfilled before moving forward with an agreement or obligation.