EXPENSE ALLOCATION AGREEMENT. This AGREEMENT, effective as of ______, 199__ , is by and between the. [list each fund] with offices at__________________(collectively the Funds) and. [list union and other entities] with offices at__________________(the Union).
A condition in a contract that causes the contract to become invalid if a certain event occurs. A condition in a contract or will that causes the contract to become invalid if a certain event occurs.This is different from a condition precedent.The happening of a condition subsequent may invalidate a contract which is, until that moment, fully valid and binding. In the case of a condition precedent, no binding contract exists until the condition occurs. condition in a contract that causes the contract to become invalid if a certain event occurs. A condition in a contract or will that causes the contract to become invalid if a certain event occurs.
A valid contract needs the following elements: 1  People entering the contract must intend the contract to be binding. 2  An offer is made by one person and is freely accepted by another. 3  Some price (money, right or benefit) is paid in return for a promise.  People making the contract have legal capacity to form a contract.