Condition subsequent and condition precedent.

A condition precedent is a fact [act or event] which must exist or occur before a duty of immediate performance of a promise arises. (A condition precedent initiates a duty). Example, taken from law. com law dictionary: If the ship makes it to shore, the buyer agrees to pay for the freight on the ship and then unload it.

Condition precedent is a term in a contract that means the parties do not have to perform under the contract until a certain event takes place. Condition subsequent means that a contract is in effect until a particular event takes place.

Depending on when the condition is expected to be performed, it is either a conditon precedent or a condition subsequent.

binding(mandatory) precedent

persuasive precedent