A contract provision that states that something in a provision requires something to happen or not to happen. (See Contingent) For example, a purchase agreement can require the item to be purchased pass an inspection.
Law Dictionary – Alternative Legal Definition
An event that may or may not happen, a doubtful or uncertain future event. The quality of being contingent. A fortuitous event, which comes without design, foresight or expectation. A contingent expense must be deemed to be an expense depending upon some future uncertain event. People v. Yonkers, 39 Barb. (N. Y.) 272. Contingency of a process. In Scotch law. Where two or more processes are so connected that the circumstances of the one are likely to throw light on the others, the process first enrolled is considered as the leading process, and those subsequently brought into court, if not brought in the same division, may be remitted to it, ob contingentiam, on account of their nearness or proximity in character to it. The effect of remitting processes in this manner is merely to bring them before the same division of the court or same lord ordinary. In other respects they remain distinct. Bell. Contingency with double aspect. A remainder is said to be “in a contingency with double aspect” when there is another remainder limited on the same estate, not in derogation of the first but as a substitute for it in case it should fail Fearne, Rem. 373.