contingency
IPA: kʌntˈɪndʒʌnsi
noun
- (uncountable) The quality of being contingent, of happening by chance.
- (countable) A possibility; something which may or may not happen. A chance occurrence, especially in finance, unexpected expenses.
- (finance, countable) An amount of money which a party to a contract has to pay to the other party (usually the supplier of a major project to the client) if he or she does not fulfill the contract according to the specification.
- (logic, countable) A statement which is neither a tautology nor a contradiction.
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Examples of "contingency" in Sentences
- A contingency planning is needed for volcanic eruption.
- The latter is a contingency but the former is necessarily true.
- It is the judgment of contingency and the nature of the response alternatives.