Concurrent Condition Law and Legal Definition

Concurrent condition is a condition which should occur or be performed simultaneously with another condition, the performance by each party separately operating as a condition precedent. This is a condition that is mutually dependent on another, arising when the parties to a contract agree to exchange performances simultaneously. This is also known as condition concurrent. A concurrent condition is an act that the parties to a contract are under duties to perform concurrently and the act of each party is separately operative as a condition precedent.