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A new Mishna teaches us that a woman is betrothed even if her husband believed he was marrying a priest but she is a levite, or vice versa. As long as this omission was not intentional, the betrothal holds. However, if a man says that he will betroth a woman after something else has happened - for example, if you/I convert, if you/I are emancipated, after your husband or sister dies, when you are able to perform chalitza, or when another man's wife gives birth to a female - in all of these cases, there is no betrothal.
We review the sugya of R. Meir who holds that a kinyan (an act of acquisition) can be done on something which is "lo ba la-olam" (not yet existant).
According to this view, a person can conclude a transaction which, under the existing conditions, is halakhically invalid, and the transaction will take effect when conditions permit.