Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

contingent claim

Read a random definition: leading of a use

A quick definition of contingent claim:

A contingent claim is a type of claim that is dependent on a future event that may or may not happen. It is not yet due for payment and may never be paid. For example, if someone buys a lottery ticket, they have a contingent claim to the prize money if they win. However, if they don't win, the claim is never paid. It is like having a promise that may or may not be kept.

A more thorough explanation:

A contingent claim is a type of claim that is dependent on a future event that may or may not happen. It has not yet accrued and is uncertain.

  • A person who has a life insurance policy that pays out only if they die before a certain age has a contingent claim.
  • A company that has a contract to receive payment only if they complete a project by a certain date has a contingent claim.

These examples illustrate how a contingent claim is dependent on a future event. The person with the life insurance policy may live past the age limit, and the company may not complete the project on time, so they may not receive payment.

contingency with a double aspect | contingent debt

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
shaquilleoatmeal
17:43
went to eat - did anyone guess the bowl lmao
shaquilleoatmeal
17:43
ooo yall were too busy with that kendrick shit
shaquilleoatmeal
17:45
put me on - whats the first song on the album thats heat
babycat
17:45
I don’t know sweetgreen like that because I’m not part of the PMC. your legs looked super tan though
LSD+ is ad-free, with DMs, discounts, case briefs & more.