Sale on Condition Law and Legal Definition

Sale on condition is an executory contract of sale. The duty to perform under a sale on condition is subject to the happening of an event, upon which, if it does happen, the duty to perform becomes binding on both parties.

The following is an example of a case law referring to sale on condition:

A sale on condition contract may be received in evidence, notwithstanding the facts that the affiant's signature appears only in the body of the affidavit thereto attached, and the seal of the notary public is lacking. [General Motors Acceptance Corp. v. Sutherland, 122 Neb. 720 (Neb. 1932)].