18:14
omg me too
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LSDefine
Simple English definitions for legal terms
inherent condition
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A quick definition of inherent condition:
An inherent condition is something that must happen before a promise or obligation can be fulfilled. It can be a part of a contract or agreement, or it can be implied by law. For example, if someone promises to pay for a service, the condition is that the service must be completed first. If the service is not completed, the promise to pay is no longer valid.A more thorough explanation:
INHERENT CONDITION
An inherent condition is a future and uncertain event on which the existence or extent of an obligation or liability depends. It is a stipulation or prerequisite in a contract, will, or other instrument, constituting the essence of the instrument. It is an intrinsic part of an agreement and is not newly imposed but is already present in an agreement.
- If Jones promises to pay Smith $500 for repairing a car, Smith's failure to repair the car (an implied or constructive condition) relieves Jones of the promise to pay.
- A condition that is explicitly stated in an instrument; especially, a contractual condition that the parties have reduced to writing.
- A qualification attached to the conveyance of property providing that if a particular event does or does not take place, the estate will be created, enlarged, defeated, or transferred.
These examples illustrate how an inherent condition is a future and uncertain event that triggers or negates a duty to render a promised performance. It is an essential part of a contract or agreement that must be fulfilled for the agreement to be valid.