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It excuses contractual performance if some future event takes place.

It must take place before a contracting party has a duty to perform.

When the conditions of performance of a contract are decided by courts, a common decision can be that the parties to the contract have a simultaneous duty to perform. This results in:

the drafting of a new contract with express conditions of performance.

a concurrent condition of performance.

a lack of contractual performance.

an implied performance.