3.01 In many cases the time of performance is set by reference to the occurrence of a particular contingency. This contingency can be one of three kinds. First, it can be an external event, as where in an insurance contract the insurer promises to pay up on the occurrence of the event insured against. Another example is where the promisor’s duty to perform is subject to something being done by a third party, such as ‘subject to guarantee being given’,1 ‘subject to approval by architect’,2 ‘subject to planning permission’,3 ‘subject to approval by court’,4 and so...
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