contingent claim

contingent claim
a claim that may be owed by the debtor under certain circumstances. For example, where the debtor is a cosigner on another person's loan and that person fails to pay (Glossary of Common Bankruptcy Terms)

A claim against a debtor that will only result in liability upon the occurrence of some future event, which event may never arise (

United Glossary of Bankruptcy Terms 2012.

Glossary of Bankruptcy.

Look at other dictionaries:

  • contingent claim — A liability which depends upon some future event which may or may not happen, and which, therefore, makes it wholly uncertain whether ultimately there ever will be a liability. Re Ayeres, 123 Neb 453, 243 NE 274. A claim against an insolvent… …   Ballentine's law dictionary

  • contingent claim — noun A claim that can be made when certain specified outcomes occur …   Wiktionary

  • Contingent claim — A claim that can be made only if one or more specified outcomes occur. The New York Times Financial Glossary …   Financial and business terms

  • contingent claim — A claim that can be made only if one or more specified outcomes occur. Bloomberg Financial Dictionary …   Financial and business terms

  • contingent claim — One which has not accrued and which is dependent on some future event that may never happen …   Black's law dictionary

  • claim — n [Old French, from clamer to call, claim, from Latin clamare to shout, proclaim] 1 a: a demand for something (as money) due or believed to be due; specif: a demand for a benefit (as under the workers compensation law) or contractual payment (as… …   Law dictionary

  • contingent — con·tin·gent /kən tin jənt/ adj 1: likely but not certain to happen compare executory 2: intended for use in circumstances not completely foreseen a contingent fund 3: dependent on or conditioned by something else …   Law dictionary

  • contingent debt — One which is not presently fixed, but may become so in the future with the occurrence of some uncertain event. A debt in bankruptcy which may be proved and allowed and which arises out of contract. It does not encompass a tort claim on which no… …   Black's law dictionary

  • contingent — 1. noun /kən.ˈtɪn.dʒənt/ a) An event which may or may not happen; that which is unforeseen, undetermined, or dependent on something future; a contingency. b) That which falls to one in a division or …   Wiktionary

  • claim — A right to payment (SA A right to payment, whether or not fixed, contingent, liquidated, disputed, or matured. (Bernstein s Dictionary of Bankruptcy Terminology) BAR DATE The date by which claims must be filed with the Bankruptcy… …   Glossary of Bankruptcy

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