Question

A contract the performance of which depends upon happening of an uncertain event becomes ______ if the event becomes impossible.

• A. valid
• B. voidable
• C. void
• D. illegal

Answer 1

The correct option is C void

• A contingent contract is one that is contingent as it depends on something else happening. Under Section 31 of the Indian Contract Act, 1872, contingent contracts are defined as follows: “If two or more parties enter into a contract to do or not do something, if an event which is collateral to the contract does or does not happen, then it is a contingent contract.
  
• There can be a contingent contract wherein a party promises to do or not do something if a future uncertain event happens within a fixed time. Such a contract is void if the event does not happen and the time lapses. It is also void if before the time fixed, the happening of the event becomes impossible.