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Contingent |
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Fortuitous; dependent upon the possible occurrence of a future event, the existence of which is not assured. The word contingent denotes that there is no present interest or right but only a conditional one which will become effective upon the happening of the designated condition. A contingent remainder is the right to possess property after the death of a person who holds a life estate in the land provided a specified condition is fulfilled. An owner of land who grants a life estate to a son, with a remainder to a daughter if she marries, has created a contingent remainder, the contingency being the daughter's marriage. contingent adj. possible, but not certain. (See: contingent beneficiary, contingent interest, contingent fee) CONTINGENT. What may or may not happen;. what depends upon a doubtful event; as, a contingent debt, which is a debt depending upon some uncertain event. 9 Ves. It. 110; Co. Bankr. Laws, 245; 7 Ves. It. 301; 1 Ves. & Bea. 176; 8 Ves. R. 334; 1 Rose, R. 523; 3 T. R. 539; 4 T. R. 570. A contingent legacy is one which is not vested. Will. on Executors, h.t. See Contingent Remainder; Contingent Use. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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National interests were still viewed as separate, but were becoming contingently convergent. 04-8, The Effect of Contingently Convertible Debt on Diluted Earnings Per Share, that the effect of contingently convertible debt ("Co-Cos") should be treated from issuance date as part of diluted EPS, without regard to the "trigger" being reached on the contingent event. ``A lot of groups have just contingently approved it because the glass - after eight months of negotiation - is just more than half full,'' he said. |
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