BMGT 380 Lecture 29: Lecture 29

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 380
• Professor: Jennifer Gershberg

Document Summary

Some contracts have no conditions: condition precedent, when a future uncertain event gives rise for your duty to perform. If it rains tomorrow, i"ll buy you an umbrella. It has to rain tomorrow for me to buy the umbrella. The rain tomorrow is the future uncertain event: concurrent condition, both have an existing obligation to perform but it"s conditioned on the other parties performance, we agree you sell me a computer and we agree on a price. You"re obligated to sell the computer, i"m obligated to pay. The obligations occur at the same time. , and are contingent on the performance of the other party: condition subsequent, if the future uncertain event occurs, it discharges my obligation. If it"s not met perfectly, the contract is breached. Implied condition: not necessary to expressly state, in fact. If i promise you to come to your house and unpack your u-