Performance of a condition precedent and first material breach are related but distinct concepts in contract litigation. “A condition precedent is an act or event that must be performed or occur, after the contract has been formed, before the contract becomes effective.” Gillis v. New Horizon Dev. Co., Inc., 664 S.W.2d 578, 580 (Mo. Ct. App….
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Contract Termination, First Material Breach of Contract
Contracts sometimes include provisions allowing one party to terminate a contract if the other party is not living up to its end of the bargain. The termination provision usually allows the party to cancel without further liability if certain circumstances exist (e.g., the goods/services being provided do not meet certain standards or are otherwise insufficient)….