Contingent Contracts

A contract dependent on the happening or non-happening of future uncertain event, is

• Uncertain contract

• Contingent contract

• Void contract

• Voidable contract

A contingent contract is

• Void

• Voidable

• Valid

• Illegal

A contingent contract dependent on the happening of future uncertain even can be enforced when the

event

• happens

• becomes impossible

• does not happen

• either of these

A agrees to pay `One lakh to B if he brings on earth a star from the sky. This is a contingent contract and

• Illegal

• Valid

• Voidable

• Void

Which of the following is not a contingent contract:

• A promise to pay B if he repairs his scooter.

  
  

• A promise to pay B ` 10,000 if B’s scooter is stolen.

  
  

• A promise to pay B ` 10,000 if B’s burnt his hands.

  
  

• A promise to pay B 10,000 if it rains on the first of the next month.

For a contingent contract the event must be:

• Certain

• Uncertain

• Independent

• Uncertain and collateral

Which one of the following is not a characteristic of a contingent contract?

• Performance depends upon a future event

• The event must be uncertain

• The event must be collateral to the contract

  
  

• There must be reciprocal promises

Wagering contracts are:

• Void

• Voidable

• Valid

• Illegal

A contract of insurance is:

• Wagering contract

• unilateral contract

• Quasi-contract

• contingent contract