Section 31 of ICA : Section 31: "Contingent Contract" Defined

ICA

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Explanation using Example

Imagine Raj agrees to sell his car to Simran for Rs. 300,000, but this sale is conditional upon Simran passing her driving test the following week. Here, the sale of the car is a contingent contract because it depends on the event of Simran passing her driving test, which is an event collateral to the contract itself.