concurrent condition
Mutually dependent conditions in a contract that must be performed simultaneously in order for the specific contract to be considered legally enforceable.
Definition from Nolo’s Plain-English Law Dictionary
Under an agreement, a situation in which one party must fulfill a condition at the same time that the other party fulfills a mutual condition. (See also: condition)
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm
