When click on the dropdown arrow of Transaction, Condition etc and end up without selecting an option from (transaction, condition) when we click back the arrow it won't fold up. needs to click somewhere on the page.

@Demark
Arrow itself has no action. I've tried to click there and there and all the time functionality was correct.

If a user clicks on the condition and if he decides he no needs to select a condition type, what will he do?

@Denmark
If I am user, come to your site, check condition type and I decide I do not want to select any, what will I do? I will continue filling other details.

  Yes before you will continue to fill other details, you will click on the arrow to close the condition types ( I mean fold up that) is it?

@Demark
No, why I would try to target on 30x30 pixel icon, if I can click anywhere outside box and close window? Box can be collapsed just clicking outside of it. Can you test on demo?

Yes, Box can be collapsed just by clicking outside of it.. But we can't expect this from all visitors, because most visitors will try to click again on the arrow. It's not a big issue, but this my opinion.