Contract Contingencies
/ˈkɒn.trækt kənˈtɪn.dʒən.siz/
Definitions
- (n.) Provisions in a contract that stipulate certain conditions must be met for the contract to become effective or binding.
The purchase agreement included contract contingencies allowing the buyer to back out if financing was not secured.
Forms
- contract contingencies
- contract contingency
Related terms
See also
Commentary
Contract contingencies are common in real estate and commercial contracts to manage risk by making obligations conditional on specific events.
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.