Contingency Agreement Example In Franklin
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A contingency is a provision that a certain act or event will happen for a contract to be binding.
For instance, a home seller may agree to an offer with the contingency that they must find a new home before they sell. If they are unable to find another home within a specified time frame, they may cancel the deal without penalty — so long as this contingency is spelled out in the contract.
Contingent Contracts: These contracts strictly depend on the occurrence of a future event. For example, if someone agrees to buy an item only if they win a bid, the contract becomes valid only upon winning the bid.
The total minimum investment amount is $1,000 per fund unless the account(s) will be funded by Automatic Investment Plan.
This share class requires an initial investment of $1,000. The fund's risk compared to that of other funds in this category is considered high by Morningstar for the trailing three-, five- and 10-year periods.
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 21.07% & 25.09%. The Franklin India Smaller Companies Direct Fund comes under the Equity category of Franklin Templeton Mutual Funds.
Example of a Contingency Contract One straightforward example might be a child who agrees with their parent that if they get an A in a particular class, they will get a new bicycle. Of course, the contract may be verbal, and it may be between family members.
Best practices for drafting a contingent contract #1 Define the conditions clearly to activate the contract obligations. #2 Include detailed descriptions of all parties' obligations. #3 Keep the contract simple to avoid misunderstandings. #4 Regularly update your contracts to keep them relevant and enforceable.
The average contingency rate falls between 20-40%, with most lawyers charging around 33% to 35% of the total amount recovered in a case. The exact percentage can vary depending on the complexity of the case, the lawyer's experience, and the stage at which the case is resolved.
