Asked by Clara Candelario on Jul 03, 2024
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Carl, a contractor, has a contract with Ron, a realtor, to construct a new condominium complex. The contract provides that Carl must furnish a certificate of occupancy and conformity with the local fire code before Ron has an obligation to pay. The furnishing of the certificate is an implied-in-fact condition subsequent to the construction of the building.
Certificate of Occupancy
A document issued by a local government or building department certifying that a building complies with applicable building codes and other laws, and is safe to occupy.
Implied-in-Fact Condition
A legal term for conditions in a contract that are not stated but are understood as a necessary part of the agreement based on the circumstances and actions of the parties involved.
Condition Subsequent
A legal term that describes a condition in a contract that, if fulfilled, terminates the obligation or contract itself.
- Analyze the significance and satisfaction of conditions (explicit, implied by fact, and implied by law) in the termination of contracts.
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Learning Objectives
- Analyze the significance and satisfaction of conditions (explicit, implied by fact, and implied by law) in the termination of contracts.
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