Condition Precedent Law and Legal Definition

Condition precedent is “one which must be performed either before a contract becomes effective or which is to be performed by one party to an existing contract before the other party is obligated to perform." Space Ctr. Tysons, Inc. v. Opus N. Corp., 2004 U.S. Dist. LEXIS 4802 (N.D. Ill. Mar. 25, 2004)