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.
Definition. Part of common law, consisting of judgments given by higher (appellate) courts in interpreting the statutes (or the provisions of a constitution) applicable in cases brought before them. Called precedents, they are binding on all courts (within the same jurisdiction) to be followed as the law in similar cases. Over time, these precedents are recognized, affirmed, and enforced by the subsequent court decisions, thus continually expanding the common law.