Business law
Q- explain contingent contract ?
Q- explain wagering contract?
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A contingent contract is a contract to do or not to do something, if some event collateral to such contract does or does not happen'. ... The contracts of insurance, indemnity, and guarantee are some examples of contingent contracts. Illustration:- A contracts to pay to B Rs. 20,000 if B's house is burnt.
A contingent contract is a contract, the performance of which is dependent on the happening or not happening of a future event. ... In a wagering agreement, the parties to the agreement do not have any interest in the event except winning or losing the amount of wager
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