Condition Concurrent

In one sentence

Mutual promises in a contract that must be performed at the same time by both parties.

Plain English

A condition concurrent exists when both parties to a contract must perform their obligations simultaneously—neither one goes first. Think of a typical house closing: the buyer hands over the money at the exact moment the seller hands over the deed. Neither party can demand the other perform first; they happen together. This differs from conditions precedent, where one thing must happen before the other is required.

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Example

At a car dealership, you hand over a cashier's check while the dealer hands you the title and keys at the same closing table. Both performances occur at the same instant, making them conditions concurrent.

Used in a sentence

“The contract contained a condition concurrent requiring both parties to exchange documents simultaneously at closing.”

Related terms

Conditions Precedent

An event that must happen before a party's obligation under a contract kicks in.

Bargained-for Exchange

A mutual agreement where each party gives something of value in return for something from the other.

Excuse for Nonperformance

A legal reason why someone doesn't have to perform their contract obligations.

Voidable Contract

A contract that one party can cancel or reject, but is otherwise valid.

Offer

A proposal to enter into a binding agreement on specific terms.

Acceptance

Agreeing to the exact terms of an offer, creating a binding contract.

Consideration

Something of value exchanged by each party to make a contract binding.

Offeror

The person who makes an offer to enter into a contract.

This page is a plain-English reference and is not legal advice. Laws vary by jurisdiction and change over time. For specific situations consult a licensed attorney.