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CONTINGENT CONTRACT

Other Topics - By: - Mr. M. GOVINDARAJAN - Dated:- 22-8-2015 - Chapter III of the Indian Contract Act, 1872 deals with the . The following sections deals with various aspects of - Section 31 - Definition of ; Section 32 - Enforcement of contract contingent on an event happening; Section 33 - Enforcement of contract contingent on an event not happening; Section 34 - When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person; Section 35 - Whe .....

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created may be one which the parties agree shall be enforceable only on the happening of some future event, as to which neither of the parties makes any promise and which is, therefore, collateral to the contract, its import being merely to mark the moment at which a right created by the contract becomes enforceable. Such contracts are terms contingent . The following are the essential features of - Uncertainty and futurity of the event to which it is related - It is this dependence on a future .....

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e its performance is not yet due. The passage of time is a certainty and not a contingency. A contingency contract need not necessarily be dependent on any external event. It may be conditional on the voluntary act or the future conduct of one of the parties or a third person. Enforcement of on an event happening Section 32 of the Act provides that s to do anything if an uncertain future event happens cannot be enforced by law unless and until that event has happened. If the event becomes imposs .....

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ed to B. The contract becomes void. s dependent on the happening of a certain event can be enforced only on the happening of that event. A plea that a contract is a contingent has to be alleged and proved by the party who sets it up and it is futile to argue that it is the bounded duty of the Trial Court to go into the matter. Enforcement of contracts contingent on an event not happening Section 33 of the Act provides that s to do or not to do anything if uncertain future event does not happen, .....

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tract is to return the earnest money, in the event of acquisition being made by the State, the Vendee-appellant is entitled under Section 33 of the Act, as rightly and legally held by the trial court to seek the refund of earnest money. The contract in question being a based on uncertain future events, that event having occurred by notification issued under Section 6 the contract became impossible of performance. Therefore it got frustrated and the contracting party is entitled to enforce the te .....

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ontract is contingent is the way a person will act at an unspecified time, the event shall be considered to become impossible when such person does anything which renders it impossible that he should so act within any definite time, or otherwise than under further contingencies. If A agrees to pay B a sum of money if B marries C, C marries D. The marriage of B to C must now be considered impossible; although it is possible that D may die and that C may afterwards marry B. The application of this .....

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ent which event never took place. When contracts become void, which are contingent on happening of specified event within fixed time Section 35 provides that s to do or not to do anything, if a specified uncertain event happens within a fixed time, become void if, at the expiration of the time fixed, such event has not happened, or if, before the time fixed, such event has not happened, or if before the time fixed, such event becomes impossible. s to do or not to do anything if a specified uncer .....

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