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.

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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.

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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.

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contingency order disclosable event