Question

What are the types of contingent contract of indian contract law?

Answer 1

Basing on the presence or absence of Conditions, Contracts can be classified into two groups namely; Absolute Contracts and Contingent Contracts. In case where there is no condition, it is called Absolute Contract. As there is no condition, absolute contract is to be performed under all circumstances.


In case where there is condition, then such contract is called Contingent Contract. Therefore Contingent Contract means Conditional Contract. When imposed and condition is fulfilled, the Contingent Contract becomes valid and then parties have to perform their obligations. If imposed and Condition is not fulfilled, the Contingent Contract become Void and then it need not be performed. So Contingent Contract is to be performed under some circumstances only.