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2. Real estate contract - Wikipedia

   en.wikipedia.org/wiki/Real_estate_contract

   A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...

3. 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 ...

4. 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

5. 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 ...

6. 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 ...

7. Joint and several liability - Wikipedia

   en.wikipedia.org/wiki/Joint_and_several_liability

   If parties have joint liability, each of them is liable up to the full amount of the relevant obligation. Example: Alex and Bobbie are married. Together they take a loan from a bank and the loan agreement specifies that they are to be jointly liable for the full amount. Alex moves overseas and ceases to make payments.