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Simple English definitions for legal terms
resolutory condition
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A quick definition of resolutory condition:
A resolutory condition is a future event that determines whether an obligation or liability exists. For example, if someone promises to pay for a car repair, the failure to repair the car would relieve the person of the promise to pay. A condition can also be a stipulation or prerequisite in a contract or other instrument. If a court construes a contractual term to be a condition, then its untruth or breach will entitle the party to whom it is made to be discharged from all liabilities under the contract.A more thorough explanation:
A resolutory condition is an uncertain event that, upon its occurrence, terminates an already enforceable obligation and restores the parties to their original positions. For example, if a person promises to pay another person $500 for repairing their car, the failure of the repair (an implied or constructive condition) relieves the person of the promise to pay.
Another example of a resolutory condition is a lease agreement that terminates upon the sale of the property. Once the property is sold, the lease agreement is terminated, and the parties are restored to their original positions.
Overall, a resolutory condition is a condition that, when fulfilled, ends an already enforceable obligation and restores the parties to their original positions.