wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

X promise to pay Y Rs. 10,000 as and when he marries Z. The contract is _____________.

A
A contingent contract
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
A wagering contract
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Opposed to public policy
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
In restraint of personal freedom
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is A A contingent contract
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.
The constituent elements of a Contingent contract are :

  • It is a contract
  • It may be positive or negative, i.e to do or not to do something.
  • It is dependent on the future event and this event is a future uncertain event, which may or may not happen.
In this case, X has promised Y Rs 10,000 when he marries Z which is a future possible event, if not much certain and hence, this contract is a contingent contract.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Insurance - Functions, Principles, Elements part 1
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon