Contingent Contracts
__________________________________________________ No. Of Questions to be Answered : Random 20 out of 40 __________________________________________________
- 1.A contract dependent on the happening or non-happening of future uncertain event, is a
- A.
Contingent contract
- B.
Uncertain contract
- C.
Void contract
- D.
Voidable contract.
- 2.A contract to do or not do something if some event, collateral to such contract, does or does not happen, is legally known as
- A.
Uncertain contract
- B.
Wagering agreement
- C.
Contingent contract
- D.
Voidable contract.
- 3.Legally, the term contingent contract is defined in
- A.
Section 30
- B.
Section 31
- C.
Section 56
- D.
Section 68
- 4.A contingent contract is ____________
- A.
Void
- B.
Voidable
- C.
Illegal
- D.
Valid
- 5.The performance of a contingent contract becomes due only upon the happening or non- happening of future uncertain event.
- A.
True
- B.
False
- 6.A promises to pay Rs. 500 to B if it rains on the first Monday of next month. It is a
- A.
Wagering agreement
- B.
Contingent contract
- C.
Void contract
- D.
Voidable agreement.
- 7.A agrees to pay Rs. 5,000 to B if B's car is burnt. It is
- A.
Void
- B.
Voidable contract
- C.
Wagering agreement
- D.
Contingent contract.
- 8.Which of the following is not an essential requirement of a valid contingent contract?
- A.
The performance must be conditional
- B.
The event must be uncertain
- C.
The event must form part of the contract
- D.
The event must be independent or ancillary
- 9.A agrees to purchase B's horse for Rs.20,000,if the house prover a lucky.It is
- A.
A contingent contract as its performance depends upon uncertain event i.e.,luck of the horse.
- B.
Not a contingent contract as the event (i.e.,luck of the horse) is part of main contract.
- C.
Void contract on account of uncertainty.
- D.
Both (b) and (c).
- 10.An uncertain event on the happening or non - happening of which the performance of a contingent contract depends,
- A.
Must be an act of the party.
- B.
Must not be an act of the parties.
- C.
Must be some another independent event
- D.
May be an act of the parties or some other independent event.
- 11.A agrees to pay Rs.50,000 to B if he (B) marries C.It is
- A.
A wagering agreement
- B.
A contingent contract
- C.
An uncertain contract
- D.
A voidable contract
- 12.Can the collateral event on which contingent contract is dependent,be an act of the party ?
- A.
Yes
- B.
No
- 13.A contract dependent on the sole discretion or will of the promisor is
- A.
An uncertain contract
- B.
A contingent contract
- C.
A forbidden contract
- D.
A voidable contract
- 14.A promises to pay Rs.5,000 to B if he (A) feel like to pay .This agreement is ________
- A.
Valid
- B.
Voidable
- C.
Void
- D.
Illegal
- 15.A contingent contract dependent on the happening of impossible event is ___________
- A.
Void
- B.
Valid
- C.
Voidable
- D.
Illegal
- 16.Which of the following fall in the category of contingent contract ?
- A.
Contracts of insurance
- B.
Contracts of Guarantee
- C.
Sale of goods on credit
- D.
Both (a) and(b)
- 17.A contract of insurance which provides that fixed amount of money shall be paid on the happening of the event e.g.,fire,accident etc.is a
- A.
Contingent contract
- B.
Wagering agreement
- C.
Uncertain agreement
- D.
None of these
- 18.A contract of life insurance is a
- A.
Contract of indemnity
- B.
Contract of guarantee
- C.
Wagering agreement
- D.
None of these
- 19.A contract of the insurance which does not provide for the payment of fixed amount but according to the loss suffered by insured person,is a
- A.
Contract of indemnity
- B.
Contract of guarantee
- C.
Wagering agreement
- D.
None of these
- 20.Which of the following statements is correct ?
- A.
Contingent contracts are void and thus not enforceable in the court of law.
- B.
Contingent contracts are valid and thus are enforceable in the court of law.
- C.
Contingent contracts are voidable and thus enforceable at the option of promisor.
- D.
Contingent contracts fall in the category of wagering agreements.
- 21.A contingent contract dependent on the happening of future uncertain event can be enforced when that event
- A.
Happens
- B.
Becomes impossible
- C.
Does not happen
- D.
Both(a)and(c)
- 22.When the future uncertain event, on the happening of which the contract is dependent, becomes impossible then the contract becomes. __________
- A.
Valid
- B.
Voidable
- C.
Void
- D.
None of these
- 23.A contracts to pay Rs. 50,000 to B if the (B) marries C. But C dies before marriage. The contract between A and B.
- A.
Cannot be enforced
- B.
Can be enforced at the option of A
- C.
Can be enforced if B marries C's sister
- D.
Can be enforced at the option of B.
- 24.A contingent contract dependent on the non- happening of future uncertain event can be enforced when that event.
- A.
Happens
- B.
Becomes impossible
- C.
Does not become impossible
- D.
Both (a) and (c).
- 25.A contingent contract dependent on the non- happening of future uncertain event becomes void when such event
- A.
Happens
- B.
Does not become impossible
- C.
Does not happen
- D.
Both (a) and (b).
Questions: 10 | Attempts: 7983 | Last updated: May 5, 2022
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