What is a condition subsequent? Briefly explain with examples.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What is a condition subsequent? Briefly explain with examples.

 
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Step 1: Definition

Condition subsequent:

Condition subsequent refers to an event which bring an contract to an end which is often used in legal terms as the marker bringing an end to one’s legal right or obligation.

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