Based on my lending experience at Ecobank Ghana, contract conditions are vital in banker-customer agreements under Act 25 (Topic 3), ensuring enforceability amid risks like those in the 2022 DDEP.

(a) Types of Conditions 

1. Condition Precedent: A condition that must be fulfilled before the contract becomes effective or obligations arise (e.g., loan approval subject to collateral valuation). If unmet, no liability. Example: BoG requires KYC compliance as precedent for account opening; non-fulfillment voids the contract, as in post-cleanup verifications.
2. Condition Subsequent: A condition that, if occurring, terminates an existing contract (e.g., loan agreement ends if borrower declares bankruptcy). It discharges parties post-event. Practical: In mortgages, default triggers acceleration clauses, aligning with BoG’s risk guidelines for early intervention.
3. Condition Concurrent: Conditions performed simultaneously by parties (e.g., payment against delivery in sales). Breach allows suspension. Banking: In forex trades, simultaneous exchange of currencies; used in Stanbic’s treasury to mitigate settlement risks under Basel III.

(b) Scope of Contract Uberrimae Fidei 

Contracts of utmost good faith require full disclosure of material facts (e.g., insurance, fiduciary relationships). Scope: Applies to banker-customer in guarantees or safe custody, where non-disclosure (e.g., borrower’s hidden debts) voids the contract. In Ghana, extends to BoG-regulated disclosures in lending, preventing misrepresentation as in UT Bank’s governance failures; promotes ethical banking per 2018 Corporate Governance Directive.