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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 ...
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.
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 ...
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.
Learn about contingent staffing, including what it is and how to get started with a contingent workforce. Find the benefits, plus other essential information.
In the United States, a contingent election is used to elect the president or vice president if no candidate receives a majority of the whole number of electors appointed. A presidential contingent election is decided by a special vote of the United States House of Representatives, while a vice-presidential contingent election is decided by a vote of the United States Senate.