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.
Definition of Contingency. Conditions included with an offer on a home that must be fulfilled before the deal can close. If a buyer or seller is unable to satisfy a contingency, then the offer on a home may become void.