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Can you explain the answer of this question below:
Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent Contract
- A:Performance to depend only upon happening of some event in future.
- B:Performance to depend only upon non-happening of some event in future.
- C:Performance is dependent upon both happening and non-happening of some event in future.
- D:None of the above.
The answer is d.
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Can you explain the answer of this question below:Under the Indian Con...
Contingent contract is dependent on happening " OR " non-happening..............
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Can you explain the answer of this question below:Under the Indian Con...
Explanation:
Essential Characteristic of a Contingent Contract:
- A contingent contract is a contract in which the performance of one or both parties is contingent upon the happening or non-happening of a future event.
- The Indian Contract Act, 1872 defines a contingent contract as a contract to do or not to do something, if some event collateral to such contract does or does not happen.
Options Analysis:
- A: Performance to depend only upon happening of some event in future.
This option is not the essential characteristic of a contingent contract as the performance can also be dependent on the non-happening of the event.
- B: Performance to depend only upon non-happening of some event in future.
This option is also not the essential characteristic of a contingent contract as the performance can also be dependent on the happening of the event.
- C: Performance is dependent upon both happening and non-happening of some event in future.
This option is not the essential characteristic of a contingent contract. A contingent contract is based on the fulfillment of a single specific event.
Correct Answer:
- D: None of the above.
The essential characteristic of a contingent contract is that the performance of the contract is contingent upon the happening or non-happening of a future event. This means that the performance may or may not occur based on the outcome of the event.
Essential Characteristic of a Contingent Contract:
- A contingent contract is a contract in which the performance of one or both parties is contingent upon the happening or non-happening of a future event.
- The Indian Contract Act, 1872 defines a contingent contract as a contract to do or not to do something, if some event collateral to such contract does or does not happen.
Options Analysis:
- A: Performance to depend only upon happening of some event in future.
This option is not the essential characteristic of a contingent contract as the performance can also be dependent on the non-happening of the event.
- B: Performance to depend only upon non-happening of some event in future.
This option is also not the essential characteristic of a contingent contract as the performance can also be dependent on the happening of the event.
- C: Performance is dependent upon both happening and non-happening of some event in future.
This option is not the essential characteristic of a contingent contract. A contingent contract is based on the fulfillment of a single specific event.
Correct Answer:
- D: None of the above.
The essential characteristic of a contingent contract is that the performance of the contract is contingent upon the happening or non-happening of a future event. This means that the performance may or may not occur based on the outcome of the event.
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Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d.
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Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d. for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d..
Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d. for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:Under the Indian Contract act 1872 _________ is the essential characteristic of a Contingent ContractA:Performance to depend only upon happening of some event in future.B:Performance to depend only upon non-happening of some event in future.C:Performance is dependent upon both happening and non-happening of some event in future.D:None of the above.The answer is d..
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