A “contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.
Illustration
A contracts to pay B Rs. 10,000 if B’s house is burnt. This is a contingent contract.
CHAPTER III OF CONTINGENT CONTRACTS
A “contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.
Illustration
A contracts to pay B Rs. 10,000 if B’s house is burnt. This is a contingent contract.
2 questions in 9 of our papers cite Section 31. Try these from the free papers:
1. Under Section 31 of the Indian Contract Act, 1872, a 'contingent contract' is a contract to do or not to do something if some event, ______ to such contract, does or does not happen. Fill in the blank.
2. Which of the following is NOT a contingent contract within the meaning of Section 31 of the Indian Contract Act, 1872?