Contingency Rules In North Carolina
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Contingency operation means a military operation that: is designated by the Secretary of Defense as an operation in which members of the Armed Forces are or may become involved in military actions, operations, or hostilities against an enemy of the United States or against an opposing military force; or.
If you're considering a property that is listed as contingent, you could still make an offer. This indicates that the seller has already accepted an offer from a buyer, but the sale hasn't been finalized yet. By submitting an offer, you'll be considered as a backup in case the original deal falls through.
If a property is contingent, it means that the deal is not entirely complete yet and is technically still an active listing, so you may be able to view the property, and write a backup offer in case the original offer falls through.
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. If the party that's required to satisfy the contingency clause is unable to do so, the other party is released from its obligations.
A contingency clause should clearly outline the conditions, how the conditions are to be fulfilled, and which party is responsible for fulfilling them. The clause should also provide a timeframe for what happens if the condition is not met.
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 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.
The standard financing contingency means that if the Buyer's financing falls through, the Seller is left with nothing but wasted time and opportunity. Waiving your mortgage contingency reverses this dynamic. Now you're assuming all the risk — and the Seller keeps the house and your deposit.
The buyer has to provide one, or more, signed Contingency Removal forms. Each one removing, or more, of the contract contingencies. Once the buyer has removed all of them in writing, they may no longer receive a refund of their deposit.
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.
