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.
On the second level the. condition is a fact which qualifies a promise of one party to the contract. in the sense that the promisor's duty to perform what he promises is. dependent on the occurrence or existence of that fact. It is on this second. level that the legal tags precedent and subsquent are typically used.