Question

Which of the following best describes a contingent contract?

Q: Answer-Which of the following best describes a contingent contract?

Explanation Contract Act Section 31.Contingent contract definedA contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.

A A contract to perform an action regardless of any event

B A contract where performance depends on the occurrence or non-occurrence of a specific event

C A contract where one party is bound to perform, irrespective of any external conditions

D A contract that becomes void if an event, unrelated to the contract, occurs

E A contract based on the performance of the other party, regardless of external circumstances

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Which of the following best describes a contingent contract?

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