True Condition Precedent

A True Condition Precedent #463

Legally Speaking

In Swan Group Inc. v. Bishop, a $130,485 deposit was at stake.1 The issue was whether a subject clause was a true condition precedent (TCP). At common law, a TCP is an external condition whose fulfillment depends on the will or actions of someone who is not a party to the contract;2 for example: [s]ubject to the …