You are currently viewing CONTINGENT CONTRACTS UNDER INDIAN CONTRACT ACT- ALL YOU NEED TO KNOW

CONTINGENT CONTRACTS UNDER INDIAN CONTRACT ACT- ALL YOU NEED TO KNOW

CONTINGENT CONTRACTS UNDER INDIAN CONTRACT ACT- ALL YOU NEED TO KNOW

Contracts are of different types. Since people can get into various kinds of agreement for performance or non-performance of certain acts. One way of understanding contracts is by dividing them into two types: Absolute and Contingent. Let us take a detailed look at contingent contracts.

The term ‘contingent’ suggests that every other thing or reality relies on an event or situation. The ‘contingent contract’ implies that the enforceability of that contract is directly dependent on an occasion occurring or not occurring. In the Indian Contract Act , 1872, the term was used to mean conditional………..

 

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