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.
A necessary condition is a condition that must be present for an event to occur. A sufficient condition is a condition or set of conditions that will produce the event. A necessary condition must be there, but it alone does not provide sufficient cause for the occurrence of the event. Only the sufficient grounds can do this. In other words, all of the necessary elements must be there. Don't let all the talk about the necessity of exercise to a long life mislead you.