MLchartDataset catalogue

Concurrent condition

Term · Law · MLC-T-LAW-001149

A condition in a contract where the parties' performances are due simultaneously. Neither party is obligated to perform unless the other party is ready and willing to perform their reciprocal obligation at the same time. This type of condition is common in cash-for-goods transactions, where payment and delivery occur concurrently.

Table 1. Record
IdentifierMLC-T-LAW-001149
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001149",
  "term": "Concurrent condition",
  "field": "Law",
  "definition": "A condition in a contract where the parties' performances are due simultaneously. Neither party is obligated to perform unless the other party is ready and willing to perform their reciprocal obligation at the same time. This type of condition is common in cash-for-goods transactions, where payment and delivery occur concurrently.",
  "url": "https://mlchart.com/terminology/law/concurrent-condition/"
}

Record 985 of 5,441 in Law terminology (MLC-0107). Request the full dataset.