Specify As A Condition Or Requirement In A Contract Or Agreement

In continental European legal systems, the general principle of good faith requires that the parties endeavour to do their best to fulfil each condition in a timely manner. This means that, as regards the conditions for the conclusion of an agreement, it is implicitly accepted that all internal authorisations necessary for the conclusion of the transaction will be obtained as soon as possible after the signature of the agreement; that mergers are notified in a timely manner (and that all answers to questions from a competition authority will be provided); and that potential adverse events be treated in a manner that minimizes the harm suffered by the buyer (i.e., between signature and conclusion, the seller would act in trust vis-à-vis the buyer). n. Apply logic to the order of conditions. An exception may be that the readability of a list of articles, one of which is detailed and the other few words, may require that short conditions be listed first and longer after. A minor who has concluded an insurance contract may therefore cancel it at the age of childhood or at the age of majority. Ratification of a directive at the age of majority can be done either explicitly or implicitly (by continuing the policy) (by oral or written communication). Some states have laws that give minors the option to purchase mandatory life insurance policies for their own lives at the age of fourteen. Conditions precedent: a condition that must be met before the exporting party has a performance obligation. They cannot terminate a contract if the guarantees are not fulfilled, but they can possibly claim compensation for the losses suffered. If the contract on the charge that the money seeker (usually buyer) needs to obtain financing, the money seeker may be subject to an implied obligation to participate.

. . .