CONTRACT LAW — Formation of Contract — Terms and Conditions — Contract Not Binding Until Conditions Fulfilled
Ratio Decidendi
Per Adekeye, JSC, in Best (Nig) Ltd v. Blackwood Hodge (Nig) Ltd & Ors (2011) NLC-123-31-1999(SC) at p. 20; Paras D—E:
"Where a contract is made subject to the fulfillment of certain specific terms and conditions the contract is not formed and not binding unless and until those terms and conditions are complied with or fulfilled."
Explanation / Scope
This principle establishes that where a contract is subject to the fulfillment of specific terms and conditions, it is not formed or binding until those conditions are fulfilled. The principle applies in conditional contracts. It ensures that conditions precedent are met. The principle reflects the requirement for fulfillment of conditions. It prevents enforcement before conditions are met. The court must require fulfillment. The principle provides guidance on conditional contracts.