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precedent noun. C2 [C] an âaction, âsituation, or âdecision that has already âhappened and can be used as a âreason why a âsimilar âaction or âdecision should be âperformed or made: There are several precedents for âpromoting âpeople who don't have âformal âqualifications.
condition precedent. n. 1) in a contract, an event which must take place before a party to a contract must perform or do their part.2) in a deed to real property, an event which has to occur before the title (or other right) to the property will actually be in the name of the party receiving title.ondition precedent. n. 1) in a contract, an event which must take place before a party to a contract must perform or do their part.