 At first sight, it is not immediately clear what the object of analysis of medieval theories of consequence is (Boh 1982). Is it the semantics of conditional sentences? Is it the validity of inferences and arguments? Is it the relation of consequence, construed as an abstract entity? In fact, at times it seems that medieval authors do not properly distinguish between these different notions. After all, these are very different concepts: a conditional is a sentence, which can be true or false; an argument or inference is an act, a consecution of assertions, which can be valid or invalid; a consequence is a relation between sentential/propositional entities, which can hold or fail to hold (Sundholm 1998).