Simple English definitions for legal terms
Read a random definition: with recourse
Contingent demand: A type of demand that cannot be determined or fixed because it depends on the occurrence of a certain event or condition. For example, a person may demand payment for services only if they successfully complete a project. This type of demand is uncertain and conditional.
Contingent demand is a type of demand that cannot be determined or fixed because it depends on the occurrence of a particular event or contingency. It is a demand that is conditional and uncertain.
These examples illustrate how contingent demand is dependent on certain conditions being met. The demand cannot be fixed until the contingency is resolved. In other words, the demand is not certain until the event or condition occurs.