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The condom is a form of contraception, so generally it is used to prevent pregnancy. It's not 100% effective, but for the most part it's reliable.
If you ejaculate inside the condom, and it's on properly and not defective, it shouldn't cause a pregnancy. I'm not sure what you were asking.
WIth proper use, and effectivness, the condom will hold and contain the sperm, preventing contact with the vagina. Otherwise the only point to a condom would be STD and AID infection, but if it can't hold sperm, then it wouldn't be able to protect you in those other ways.
edited for typos
[This message has been edited by DanaJ (edited 08-24-2003).]