condition subsequent

condition subsequent definition - business

condition subsequent

A condition in a contract that results in the contract becoming invalid if a specified event occurs. For example, a real estate contract becomes valid when signed, but can later become invalid if an attorney raises an issue that is not addressed within a specified period.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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