Mind & Motion Utah Investments, LLC v. Celtic Bank Corp.

AMENDED OPINION *

Chief Justice DURRANT,

opinion of the Court:

introduction

11 Utah law recognizes two different kinds of promises parties make in a contract, covenants and conditions. Covenants are mutual obligations the parties bargain for in their agreement, and the failure to perform them generally gives rise to remedies for breach of contract. Conditions, on the other hand, are events not certain to occur, but which must occur before either party has a duty to perform under the contract. In contrast to covenants, the failure of a condition relieves the parties of any performance obligations,…