Contingency By Law Definition In Kings
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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.
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.
A contingency is an event you can't be sure will happen or not. The noun contingency describes something that might or might not happen. We use it to describe an event or situation that is a possible outcome but one that's impossible to predict with certainty.
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.
: dependent on or conditioned by something else. Payment is contingent on fulfillment of certain conditions. a plan contingent on the weather. 2. : likely but not certain to happen : possible.
Adjective. dependent for existence, occurrence, character, etc., on something not yet certain; conditional (often followed by on or upon ): Our plans are contingent on the weather. liable to happen or not; uncertain; possible: They had to plan for contingent expenses.
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.
