Stillwater recently worked with several clients and their attorneys to resolve term contract disputes that led to litigation or arbitration. These disputes were grounded in the poor structure and understanding of the terms and conditions of the contracts. Often, the parties to the contract cannot anticipate all the various ways that contract terms can be interpreted or applied to situations they may not foresee. Through its experience working with a large number of clients with a variety of different contract types and situations, Stillwater Associates has experience identifying most of these potential problem areas before they arise. Some of the key lessons learned from working on these cases are as follows:

A condition precedent is an event or state of affairs that is required before something else will occur. In contract law, a condition precedent is an event which must occur, unless its non-occurrence is excused, before performance under a contract becomes due, i.e., before any contractual duty exists. For example, one party's obligation to pay money may be expressly conditioned upon the other party's actual delivery of the agreed upon product within specifications at the agreed location and on time.