What is a contingent contract?

A contingent contract is a type of agreement between two parties that is dependent on a certain event or condition. This means that the fulfillment of the contract is based upon a certain event or condition coming true. In the state of Washington, a contingent contract can be used in a variety of scenarios, including the buying or selling of property, the transfer of title, services rendered, and more. Generally, a contingent contract includes clauses that describe the event or condition that must be fulfilled in order for the contract to be valid and binding. These conditions may be included in a separate document or as part of an existing contract, and each party must agree to the terms and conditions included in the contract for it to be legally binding. In Washington, a contingent contract is enforceable as long as the events or conditions specified in the contract are met. This means that if one party does not comply with the terms of the contract, then the other party is legally protected and can seek relief from the court or other legal channels. In conclusion, a contingent contract is a type of agreement between two parties that is dependent upon a certain event or condition. These contracts are legally enforceable in Washington and both parties must agree to the terms and conditions included in the contract in order to make it valid and binding.

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