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 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 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.
A contingent contract is a legal agreement in which the terms and conditions only apply or take effect if a specific event occurs. Essentially, the parties involved agree to perform actions or obligations based on the occurrence or non-occurrence of a particular event in the future.
32. Contingent contracts to do or not to do anything if an uncertain future event happens cannot be enforced by law unless and until that event has happened. If the event becomes impossible, such contracts become void.
Most lawns need to be watered no more than three days a week in the spring as well as in the summer and two days a week in the fall. This watering schedule is recommended under normal water supply conditions.
Front yard along the street - 3 feet maximum. Side yard along the street - 3 feet maximum. Rear and side yards that are not long the street - 7 feet maximum. Sightlines to the street from any driveway - Side and rear fence heights must be low enough to provide sightlines to the street from the driveway.
Outdoor watering hours are restricted to before 10 a.m. and after 8 p.m., unless using a hand-held hose with an automatic shut-off nozzle or a drip irrigation system. Standard sprinklers cannot run more than 15 minutes per station per day. Find and fix leaks as soon as possible.
The contingent period usually lasts anywhere from 30 to 60 days. If you have a mortgage contingency, the buyer's due date is usually about a week before closing. Overall, a home stays in contingent status for the specified period or until the contingencies are met and the buyer closes on their new house.
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.