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      Question

      What type of contract is created when the performance of

      an existing contract depends on the occurrence or non-occurrence of a collateral and uncertain future event?
      A Express Contract Correct Answer Incorrect Answer
      B Executed Contract Correct Answer Incorrect Answer
      C Quasi Contract Correct Answer Incorrect Answer
      D Contingent Contract Correct Answer Incorrect Answer
      E Unilateral Contract Correct Answer Incorrect Answer

      Solution

      Contract Act,  Section 31- 36: Contract to do or not to do something if some event, collateral to such contract does or does not happen. These are conditional contract as they are dependent on an uncertain future event which must be collateral to the contract.

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