A set of basic functions used as building blocks for more complicated functions. The list of parent functions varies. A typical set of functions is listed below.
Webster Dictionary(0.00 / 0 votes)Rate this definition: Recency(noun) the state or quality of being recent; newness; new state; late origin; lateness in time; freshness; as, the recency of a transaction, of a wound, etc.
Contingency Defined. Homes are often sold subject to particular contingencies. A contingency is a condition that must be satisfied before a partyâs duty to perform his side of the contract arises. Often, a buyer will make an offer to purchase a house contingent upon the sale of his property. This means that the buyer does not have to purchase the property until he has sold his own property first.