Contingency In Law Define In Palm Beach
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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.
A contingency is something that might happen in the future. formal I need to examine all possible contingencies. Synonyms: possibility, happening, chance, event More Synonyms of contingency.
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.
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.
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.
Contingent adj 1 : likely but not certain to happen compare executory. 2 : intended for use in circumstances not completely foreseen a fund 3 : dependent on or conditioned by something else a claim a legacy on the marriage compare vested.
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.
Typically, most construction projects use a contingency rate of 5% to 10% from the total project budget. This is typically enough to cover any unexpected costs that may arise throughout the project.
It provides a safety net for unexpected expenses and ensures the project stays on track, both in terms of budget and timeline. The recommended percentage for a contingency fund is between 5-10% of the total budget, but this may vary depending on project complexity and past experiences.
