Contingency
/kənˈtɪn.dʒən.si/
Definitions
- (n.) A future event or circumstance that is possible but cannot be predicted with certainty.
The contract included a contingency for delays due to weather.
- (n.) A provision in a legal agreement that certain obligations depend on a specified event occurring.
The agreement is subject to the contingency of obtaining financing.
Forms
- contingencies
Related terms
Commentary
Contingencies are often used to allocate risk and provide escape routes in contracts, emphasizing precise drafting to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.