Lucky is right. If you do not have a manual, you can download the factory service manual for free from the home page here. To further explain the ignition system, the points are just an on/off switch. There is power going to the coil, then it goes to the points. When the points are closed they are grounding the circuit to make it complete. This is when the coil charges. Then at the proper time the points open, and the coil discharges to the spark-plug. This creates a spark (when you are checking for spark the spark-plug must be grounded.) The condenser absorbs the extra voltage, so that the points do not arc when they open. The system will work without the condenser, but not for long as the points would just burn up. Hope this helps.
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1976 CB 750-A X 2
1977 CB 750-A X 4
1977 CB 750-K
1976 CB 750 F
1981 CB 750
1966 Kawasaki SG 250
1981 KZ 750 LTD
1973 CB 350
1979 CM 185 Twinstar
1982 Honda XL 80
South of Eden (Kansas City MO)