condition subsequent

A condition in a contract which follows liability upon the contract and operates to defeat or annul such liability upon the subsequent failure of the other party to comply with its terms. 17 Am J2d Contr § 323: in the law of estates, a condition which operates on an estate conveyed or devised so as to render it liable to be defeated for breach of the condition; the title passes to the grantee or devisee, subject to divestitute on failure of performance of the condition. 28 Am J2d Est § 132; in the law of insurance, a condition which presupposes an absolute obligation under the policy, and provides that the policy shall become void, or its operation be defeated or suspended, upon the happening of some event or the doing or omission of some act. 29 Am J Rev ed Ins § 718. In a lease, a condition which has no relation to the inception of the lease and the commencement of the tenancy, but, instead, gives the landlord, on its happening or not happening or its performance or nonperformance, a right to re-enter and terminate the lease. 32 Am J1st L & T § 825. See interest upon condition subsequent.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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  • interest upon condition subsequent — A vested interest subject to be divested. Anno: 71 ALR 1053, 1054 …   Ballentine's law dictionary

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