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A contingent contract dependent on the non-happening of a future uncertain event becomes void when such event
- a)happens
- b)does not become impossible
- c)does not happen
- d)both (a) and (b)
Correct answer is option 'D'. Can you explain this answer?
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A contingent contract dependent on the non-happening of a future uncer...
Where the performance of a contingent depends on the happening of an uncertain future event, it cannot be enforced till the event takes place. And if the happening of the event becomes impossible,such contracts become void
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A contingent contract dependent on the non-happening of a future uncer...
Contingent Contract and Uncertain Event:
A contingent contract is a contract that depends on the happening or non-happening of a future uncertain event. The future event may or may not happen, and the outcome of the event will determine whether the contract will be performed or not. The uncertainty of the event is the key feature of a contingent contract.
Void Contract:
A void contract is a contract that has no legal effect. A void contract is not enforceable by law, and it cannot create any legal rights or obligations between the parties. A void contract is treated as if it never existed.
Contingent Contract Dependent on Non-Happening of Future Uncertain Event:
A contingent contract that depends on the non-happening of a future uncertain event is a contract that will be performed only if the event does not happen. For example, if A agrees to pay B a certain amount of money if it does not rain tomorrow, the contract is contingent on the non-happening of rain. If it rains tomorrow, the contract will not be performed, and if it does not rain, the contract will be performed.
Voidability of Contingent Contract:
A contingent contract dependent on the non-happening of a future uncertain event becomes void when such event happens or becomes impossible. If the event happens, the contract will not be performed, and if it becomes impossible, the contract cannot be performed. The reason for this is that the contingency on which the contract was based has been removed, and the contract no longer has any legal effect.
Conclusion:
In conclusion, a contingent contract dependent on the non-happening of a future uncertain event becomes void when such event happens or becomes impossible. This is because the contingency on which the contract was based has been removed, and the contract no longer has any legal effect.
A contingent contract is a contract that depends on the happening or non-happening of a future uncertain event. The future event may or may not happen, and the outcome of the event will determine whether the contract will be performed or not. The uncertainty of the event is the key feature of a contingent contract.
Void Contract:
A void contract is a contract that has no legal effect. A void contract is not enforceable by law, and it cannot create any legal rights or obligations between the parties. A void contract is treated as if it never existed.
Contingent Contract Dependent on Non-Happening of Future Uncertain Event:
A contingent contract that depends on the non-happening of a future uncertain event is a contract that will be performed only if the event does not happen. For example, if A agrees to pay B a certain amount of money if it does not rain tomorrow, the contract is contingent on the non-happening of rain. If it rains tomorrow, the contract will not be performed, and if it does not rain, the contract will be performed.
Voidability of Contingent Contract:
A contingent contract dependent on the non-happening of a future uncertain event becomes void when such event happens or becomes impossible. If the event happens, the contract will not be performed, and if it becomes impossible, the contract cannot be performed. The reason for this is that the contingency on which the contract was based has been removed, and the contract no longer has any legal effect.
Conclusion:
In conclusion, a contingent contract dependent on the non-happening of a future uncertain event becomes void when such event happens or becomes impossible. This is because the contingency on which the contract was based has been removed, and the contract no longer has any legal effect.
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A contingent contract dependent on the non-happening of a future uncer...
Option A is right
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A contingent contract dependent on the non-happening of a future uncertain event becomes void when such eventa)happensb)does not become impossiblec)does not happend)both (a) and (b)Correct answer is option 'D'. Can you explain this answer?
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A contingent contract dependent on the non-happening of a future uncertain event becomes void when such eventa)happensb)does not become impossiblec)does not happend)both (a) and (b)Correct answer is option 'D'. Can you explain this answer? 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 A contingent contract dependent on the non-happening of a future uncertain event becomes void when such eventa)happensb)does not become impossiblec)does not happend)both (a) and (b)Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A contingent contract dependent on the non-happening of a future uncertain event becomes void when such eventa)happensb)does not become impossiblec)does not happend)both (a) and (b)Correct answer is option 'D'. Can you explain this answer?.
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