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2. Common real estate contingencies and what they mean - AOL

   www.aol.com/finance/common-real-estate...

   A contingency clause in a real estate purchase agreement specifies an action or requirement that must be met, within a particular time frame, for the contract to become legally binding. Both the ...

3. Contingent liability - Wikipedia

   en.wikipedia.org/wiki/Contingent_liability

   In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event [1] such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency' or ...

4. 72-hour clause - Wikipedia

   en.wikipedia.org/wiki/72-hour_clause

   A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] 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 ...

5. Rule against perpetuities - Wikipedia

   en.wikipedia.org/wiki/Rule_against_perpetuities

   The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.

6. Real estate contract - Wikipedia

   en.wikipedia.org/wiki/Real_estate_contract

   But it is possible for a real estate contract not to have any contingencies. Some types of contingencies which can appear in a real estate contract include: Mortgage contingency – Performance of the contract (purchase of the real estate) is contingent upon or subject to the buyer getting a mortgage loan for the purchase. Usually such a ...

7. Contingent contract - Wikipedia

   en.wikipedia.org/wiki/Contingent_contract

   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 ...

8. IAS 37 - Wikipedia

   en.wikipedia.org/wiki/IAS_37

   IAS 37 establishes the definition of a provision as a "liability of uncertain timing or amount", and requires that all the following conditions be fulfilled before a provision can be recognized: the entity currently has a liability as a result of a past event; an outflow of resources is likely to be needed to settle the liability; and

9. Liability (financial accounting) - Wikipedia

   en.wikipedia.org/wiki/Liability_(financial...

   In financial accounting, a liability is a quantity of value that a financial entity owes. More technically, it is value that an entity is expected to deliver in the future to satisfy a present obligation arising from past events. [1] The value delivered to settle a liability may be in the form of assets transferred or services performed.