Contingent Claim
/kənˈtɪn.dʒənt kleɪm/
Definitions
- (n.) A claim dependent on the occurrence of a future event that is uncertain and not within the claimant's control.
The creditor asserted a contingent claim subject to the debtor's successful completion of contractual obligations.
- (n.) A potential claim that arises only if certain events happen, often relevant in bankruptcy and contract law contexts.
Contingent claims must be estimated and reported in the bankruptcy estate.
Forms
- contingent claim
- contingent claims
Related terms
See also
Commentary
Contingent claims require careful assessment to determine likelihood and value, often affecting estate valuations and litigation strategies.
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.