Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Contingency
1 An event that may or may not occur; a possibility. 2. The condition of being dependent on chance; uncertainty. 3. CONTINGENT FEE.
contingency fee
See CONTINGENT FEE.
contingency reserve
See contingent fund under FUND.
contingency with a double aspect
A contingent remainder existing along with a second remainder, the latter taking the remainder only if the first fails. ( In the following example, this type of remainder would arise if A never has children: "to A for life, and if A has children, then to the children and their heirs forever; and if A dies without children, then to B and B's heirs forever." See contingent remainder under REMAINDER.
mortgage-contingency clause
A real-estatesale provision that conditions the buyer's performance on obtaining a mortgage loan.