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Reciprocal Contract Form

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Instructions and help about Reciprocal Contract

Often times, people have sequential promises: if you do this I can do that, if you do the other thing, I can do something else. If you have what is known as a complete contingent state contract, there will be no surprises. Most people, however, when they draft an agreement simply talk about the basic elements so that is left to implication to fill in the gaps. So I agree to sell you certain goods which you agree to deliver me. The day comes for the delivery and you don’t do it. Am I still required to pay for the goods and then sue you for their non-delivery or can I withhold the payment by virtue of the fact that you haven’t delivered? The general answers to the law of conditions is that in order to make the exchange efficient, no person is essentially required to put himself at risk to the other party which is in breach. So, if you do not deliver me the goods on time by the law of constructive conditions, I do not pay for them um on the time. If I, in fact, am not prepared to pay

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