contingency

Definitions (3)

1. An event that may or may not occur.
2. A condition that must be met in order for a contract to be legally binding.
3. Real Estate: A provision or provisions in a contract that must be met for the contract to be considered enforceable. For example, a buyer may offer a contract that is contingent upon the buyer's obtaining suitable financing; if financing is not obtained, the buyer may back out of the agreement without penalty.

Use contingency in a sentence

There was a contingency that prevented me from being able to complete the sale of the house to the couple.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

Peter's parents promised to buy him a new car as long as one specific contingency -- that he get straight A's in school -- was satisfactorily met.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

My company agreed to sell a piece of property to the startup business, but included a contingency in the contract that the buyer had to secure the full purchase price before we would sell.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
subject to clause disclosable event