N.Y. Estates, Powers and Trusts Law 6-4.10 – Definition of a future estate subject to a condition precedent
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§ 6-4.10 Definition of a future estate subject to a condition precedent
Terms Used In N.Y. Estates, Powers and Trusts Law 6-4.10
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
A future estate subject to a condition precedent is an estate created in favor of one or more unborn or unascertained persons or in favor of one or more presently ascertainable persons upon the occurrence of an uncertain event.