Youtube Exercise » English Grammar Homework

Conditions of Contract: Concurrent Conditions, Conditions Precedent, Conditions Subsequent

Business Law Institute

6,380 views 5 years ago

Warm-up Questions

What do you think “conditions of contract” means in simple terms?
In a contract, when might someone’s duty to perform depend on another event happening first?
What examples of “conditions” have you heard about in real life (jobs, buying a house, renting)?

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Conditions of Contract: Concurrent Conditions, Conditions Precedent, Conditions Subsequent

What contract conditions are and concurrent conditions (00:00 – 01:11)

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1. What does the speaker say a condition can do in a contract?

It guarantees the contract will never be broken.
It replaces the need for any promises.
It can regulate when performance is due.

2. In concurrent conditions, when are the promises performed?

Only after a court approves them
At the same time
In a random order, depending on the parties

3. In the computer example, what happens if Bob does not tender payment?

Ann still must deliver the computer immediately.
Ann does not have to complete delivery of the computer.
The contract automatically becomes void from the beginning.

Conditions of Contract: Concurrent Conditions, Conditions Precedent, Conditions Subsequent

Conditions precedent (01:11 – 02:09)

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1. What must happen before the duty to perform arises in a condition precedent?

The duty to perform must already have been extinguished.
A specified event must occur first.
The parties must perform at the same time.

2. If the condition precedent never occurs, what does the speaker say about the duty to perform?

It arises after 30 days automatically.
It never arises.
It turns into a condition subsequent.

3. In the business purchase example, what is the condition precedent?

David must find a new buyer within 30 days.
Lee must find suitable financing within 30 days.
Lee must pay $450,000 immediately.

Conditions of Contract: Concurrent Conditions, Conditions Precedent, Conditions Subsequent

Conditions subsequent (02:09 – 02:57)

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1. What does a condition subsequent do to a duty to perform?

It creates the duty for the first time.
It makes performance simultaneous.
It extinguishes a duty that has already arisen.

2. When does the duty to perform stop in a condition subsequent?

When the contract is first signed
When one party refuses to negotiate
When the condition occurs

3. In the final example, what event meets the condition subsequent?

Working for IBM for two full years
Getting a pay raise during the third week
Being admitted to law school

Conditions of Contract: Concurrent Conditions, Conditions Precedent, Conditions Subsequent

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1. Which type of condition usually requires both parties to perform at the same time (for example, payment and delivery)?

Conditions subsequent
Concurrent conditions
Conditions precedent

2. Which type of condition must happen before any obligation to perform begins?

Conditions subsequent
Conditions precedent
Concurrent conditions

3. Which type of condition ends a duty to perform that is already in progress?

Conditions precedent
Conditions subsequent
Concurrent conditions

Discussion Questions

Discuss the ideas from this video

Conditions of Contract: Concurrent Conditions, Conditions Precedent, Conditions Subsequent

Why do you think contracts use conditions instead of just setting a simple deadline?
Can you create a real-life example of a condition precedent (e.g., renting an apartment, buying a car, getting a job)?
Can you create a real-life example of a condition subsequent (something that ends an obligation after it has started)?
Which type of condition seems most common in everyday life: concurrent, precedent, or subsequent? Why?