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Conditional Contracts

A conditional contract is a legally binding agreement that depends on the occurrence of specific conditions. These conditions may relate to various aspects of the contract, such as performance, events, or external factors. Unlike an unconditional contract, which takes effect immediately upon execution, a conditional contract only becomes enforceable when the specified conditions are met.

Conditional Contracts

Condition Precedent:
A condition that must be fulfilled before the contract becomes effective. For example, a property sale contract may be conditional upon obtaining planning permission for development.

Condition Subsequent:
A condition that, if triggered, terminates the contract.

Certainty and Precision:
To create a valid conditional contract, the conditions must be clear, precise, and capable of objective determination. Ambiguity can lead to disputes.

Drafting Considerations:
When drafting conditional contracts, parties should define conditions explicitly, specify the consequences of non-fulfilment, and address any contingencies.

Property Transactions:
Conditional contracts are prevalent in property sales and development agreements.

Business Sales:
Agreements to buy or sell a business may include conditions related to due diligence, regulatory approvals, or financial performance, or the landlord’s approval to a transfer or assignment of a lease.

Construction Contracts:
Contracts for construction projects often have conditions tied to milestones, approvals, or quality standards.

Contact Williamsons Solicitors on 01482 323 697.

Navigating conditional contracts requires legal expertise. Consult our experienced commercial solicitors to ensure your contracts are well-drafted, enforceable, and aligned with your business goals.

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