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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 ...
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.
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.
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 ...
The Pillsbury plan and another offer were contingent on permitting and final approvals, which mean it would likely take two years to complete the sale, Arlinghaus said.
It is a contingent offer only, and may mean an offer of admission in the future, or it may not, depending on circumstances. It has been described as a type of college admissions "purgatory", [ 2 ] or being held in "the higher-ed equivalent of limbo". [ 3 ]
Contingent fee agreements are legal in all provinces of Canada, but with some restrictions on what cases are eligible to be handled on a contingent fee basis. [ 6 ] [ 7 ] [ 8 ] In some cases, an attorney may collect a percentage of recovery in case of a victory but must otherwise charge an hourly fee.