What is the test for establishing a contingent claim?
MultiRegion, United States of America
The following excerpt is from McFadden v. Putnam (In re Putnam), Adv. No. 10-01261-A, Case No. 10-19719-A-7 (Bankr. E.D. Cal. 2012):
18. See Fostvedt v. Dow (In re Fostvedt), 823 F.2d 305, 306 (9th Cir. 1987) (defining a contingent claim as "one which the debtor will be called upon to pay only upon the occurrence of happening of an extrinsic event which will trigger the liability of the debtor to the alleged creditor" (citation omitted) (internal quotation marks omitted)).
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