Search results
Results from the WOW.Com Content Network
A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions ...
The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the seller to continue to market the property. The 72 hour clause is usually written into sales contracts by the seller, this allows a seller to keep the home on the market and accept backup offers ...
What Is a Contingent Offer? A contingent offer on a home includes a clause that protects the buyer and makes it easier to back out of the deal without financial penalty in certain circumstances.
In their seminal contributions, Grossman and Hart (1986), Hart and Moore (1990), and Hart (1995) argue that in practice, contracts cannot specify what is to be done in every possible contingency. [6] [7] [8] At the time of contracting, future contingencies may not even be describable. Moreover, parties cannot commit themselves never to engage ...
If the offer is accepted by the vendor, the offer to purchase will become a contract binding on the parties when all conditions are satisfied. An alternative to a conditional sale is an invitation to treat. Unlike a conditional sale, an invitation to treat does not become binding upon satisfaction of any conditions.
Contingent work, casual work, gig work or contract work, is an employment relationship with limited job security, payment on a piece work basis, typically part-time (typically with variable hours) that is considered non-permanent. Although there is less job security, freelancers often report incomes higher than their former traditional jobs.
You found a new home, but the seller won’t accept a contingency offer to sell your current home. You can’t come up with the down payment for a new purchase unless you sell your current home.
Backing out of an offer for a non-contingent reason means you risk losing your earnest money. Since you put that money down based on the promise that you would follow through with the contract ...