A resolutory condition refers to a future event that determines the existence of an obligation or liability. For instance, if someone agrees to cover the cost of a car repair, the failure to repair the car would release the person from the obligation to pay. A condition can also be a requirement or condition in a contract or other legal document. If a court interprets a contractual term as a condition, then the party to whom it is made will be released from all liabilities under the contract if the condition is not met or breached.
A resolutory condition refers to an uncertain event that, when it happens, ends an obligation that was already enforceable and returns the parties involved to their initial positions. For instance, if someone agrees to pay $500 to another person for fixing their car, the failure of the repair (which is an implied or constructive condition) releases the person from the obligation to pay. Another example of a resolutory condition is a lease agreement that terminates once the property is sold. When the property is sold, the lease agreement ends, and the parties are returned to their original positions. In summary, a resolutory condition is a condition that, upon fulfilment, terminates an already enforceable obligation and restores the parties to their original positions.
A resolutory condition is a condition that, when fulfilled, terminates a legal obligation or contract.
Yes, a resolutory condition can be included in various types of contracts, such as lease agreements, sales contracts, or employment contracts.
If a resolutory condition is not fulfilled, the legal obligation or contract will continue to exist and remain in effect.
Yes, parties to a contract can agree to waive or modify a resolutory condition, as long as both parties consent to the change.
To be valid, a resolutory condition must be clear, specific, and not against public policy or illegal.
A resolutory condition can be either implied or explicitly stated in the contract, depending on the circumstances and the intent of the parties involved.
Yes, if a resolutory condition is clearly defined and the condition is not fulfilled, a court can enforce the termination of the legal obligation or contract.
Yes, a resolutory condition can be challenged or disputed if there is evidence that the condition was not fulfilled or if there is a disagreement about the interpretation of the condition.
No, a resolutory condition cannot be used to terminate a contract retroactively. It only applies to future events or circumstances.
In most cases, the termination of a contract due to a resolutory condition will have consequences and potential liabilities, such as the return of property or payment of damages. However, the specific consequences will depend on the terms of the contract and applicable laws.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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