Answer-What is a contingent contract?

Contract Act Section 31. Contingent contract defined 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.

Question

What is a contingent

contract?

A A contract that is binding only if both parties agree to its terms

B A contract that is automatically terminated if one party fails to fulfill its obligations

C A contract that depends on the occurrence or non-occurrence of a specific event

D A contract that is legally enforceable without any conditions

E A contract that can be modified at any time by either party

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What is a contingent

Solution