deference - a courteous expression (by word or deed) of esteem or regard; his deference to her wishes was very flattering; be sure to give my respects to the dean. 2. deference - courteous regard for people's feelings; in deference to your wishes; out of respect for his privacy.
Conditions precedent is a term used to define all the significant points that need to be dealt with prior to closing a transaction. They are itemized in the letter of intent (LOI) by either the buyer or the seller, although it is usually the buyer who typically inserts them.
A term of a Contract may be classified as a condition or a warranty. A term may be a pre-condition to formation of the contract (a. condition precedent) or a pre-condition to performance (a condition. subsequent). In this article a condition precedent and a condition. subsequent are both referred to as a âconditionâ. A warranty is a term. collateral to the main purpose of the contract.