| April 24, 2002 | 0 Comments
|Paragraph II: The condition precedent|
|The obligation contracted under a condition precedent is that which depends either on a future and uncertain event, or on an event that has actually occurred, but still unknown to the parties.
In the first case, the obligation can only be performed after the event.
In the second case, the obligation takes effect from the day it was contracted.
|When the obligation has been contracted under a suspensive condition, the thing which forms the subject of the agreement remains at the risk of the debtor who is only obliged to deliver it in the event of the condition.
If the thing is entirely perished without the fault of the debtor, the obligation is extinguished.
If the thing has deteriorated without the fault of the debtor, the creditor has the choice either to resolve the obligation, or to demand the thing in the state in which it is, without reduction of the price.
If the thing has deteriorated through the fault of the debtor, the creditor has the right either to cancel the obligation, or to demand the thing in the state in which it is,
Articles 1183 and 1184