Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

collateral condition

Read a random definition: free entry, egress, and regress

A quick definition of collateral condition:

A collateral condition is a term in a contract that depends on something uncertain happening in the future. For example, if someone promises to pay for a car repair, but the repair is not done, they don't have to pay. It can also refer to a requirement in a contract that is not related to the main purpose of the agreement. A condition can be something that must happen before a duty to perform arises, or it can be a promise that must be kept. There are different types of conditions, such as suspensive conditions that make an obligation mandatory only if a certain event occurs, and resolutory conditions that terminate an already enforceable obligation.

A more thorough explanation:

A collateral condition is a term used in contracts and legal instruments that requires the performance of an act that has no relation to the main purpose of the agreement. It is a future and uncertain event on which the existence or extent of an obligation or liability depends. For example, if Jones promises to pay Smith $500 for repairing a car, Smith's failure to repair the car relieves Jones of the promise to pay.

Another example of a collateral condition is a condition that requires the performance of an act having no relation to an agreement's main purpose. For instance, if a landlord promises to fix a tenant's roof, but only if the tenant agrees to mow the lawn, the tenant's failure to mow the lawn would relieve the landlord of the promise to fix the roof.

Collateral conditions are different from essential conditions, which are conditions that go to the root of the contract and are necessary for the performance of the agreement. Collateral conditions are not essential to the performance of the agreement, but they may affect the parties' obligations under the contract.

collateral-benefit rule | collateral consequence

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
LSD+ is ad-free, with DMs, discounts, case briefs & more.