Agreement Type Definition
Types of conditions Conditions precedent, concurrent conditions and subsequent conditions are types of conditions that are often found in contracts. A condition precedent is an event that must be presented as a fact before the promiser is held liable under it. Assuming an employer informs an employee that the employee, if successful in an accounting course, receives $US 500. The end of the course must be a fact before the employer is held liable to the worker; if this circumstance occurs, the employer is liable. Since 1 January 2011, the Australian Consumer Act has been enacted nationally in Australia and, under an agreement of the Council of Australian Governments (COAG), this legislation is now part of the fair trade laws of any jurisdiction (state or territory). .