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.
Noun. 1. precedent-an example that is used to justify similar occurrences at a later time. case in point. example, instance, illustration, representative-an item of information that is typical of a class or group; this patient provides a typical example of the syndrome; there is an example on page 10.