A contingency is a potential event or circumstance that is uncertain but could have either positive or negative consequences on an entity's financial situation or operations. It is often considered in risk management and financial planning.
An executory contract is an agreement that has not been fully accomplished or completed, but remains contingent upon the occurrence of some future event or performance of some future act.
The phrase 'waiting for the other shoe to drop' is commonly used to describe a situation where one is expecting a related announcement or event to occur after an initial one. This expectation is often based on a belief that subsequent events are contingent upon an original incident.
