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I am very new to bitcoin scripts, and need to design some high level bitcoin protocols without enough time to really dive into the details of the language itself.

Is there a way to write a script that conditions on the current time? something like this. where currentTime stands for the current time stamp.

GivenTimeLimit=8.23.2013

if currentTime<GivenTimeLimit: 
 redeeming requires knowing x s.t h(x)=x (input is x)
else: 
 redeeming requires knowing x s.t. h(x)=x AND z s.t. h(z)=z (inputs are x and z)

I am trying to create a situation where until time (or date) GivenTimeLimit, only one party p1 can redeem a certain amount, but after GivenTimeLimit, only the other party, p2, can redeem this amount. Is that possible?

Thank you very much!

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