Conditions precedent are critical provisions in commercial contracts that require specific events or actions to occur before contractual obligations become enforceable. These conditions serve as legal triggers, ensuring that...more
On March 21, 2022, the Court of Special Appeals of Maryland (the “Court”) decided in Peterbilt of Baltimore LLC v. Capitol Gateway Properties, LLC that provisions of an option to purchase (the “Option”) pursuant to the...more
What happens when the settlor (i.e., creator) of a trust imposes a condition precedent on receipt of a distribution from the trust, but the condition cannot be met because the circumstances have changed? Is the beneficiary...more