Contingency In Law Define In Hennepin
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A "contingent contract" is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.
The term "contingency" refers to the fact that the payment is dependent on the successful completion of the agreed-upon task, such as a court case or a business deal.
Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.
Examples of contingency plans in business could include: Strategies to ensure minimal operational disruption during crises, such as unexpected market shifts, regulatory compliance changes, or severe staff shortages.
Contingency refers to an event that may or may not occur in the future. In other words, it depends on fulfillment of a condition, which is uncertain or incidental.
Contingency planning ensures that we know what to do when disaster strikes, and have the systems and tools to respond fast. It means anticipating the types of disasters we might face and knowing practically how to manage disasters when they do strike.
Contingency planning means preparing an organization to be ready to respond effectively in the event of an emergency. It is an important part of the IFRC's work supporting National Society preparedness.
A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid.
What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.
Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.
