- 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 (SA-Bankruptcy.com)
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 Bankruptcy.com) 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