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.
In the law of contracts, as well as estates and conveyancing, conditions precedent and subsequent may exist. A condition precedent must occur before a right accrues. A woman may convey her house to her son based on the condition that the son marry by the age of twenty-five. If the son fails to marry by that age, he has lost his right to the house.