CA Foundation Exam > CA Foundation Questions > Events in case of contingent contracts are:a)...
Start Learning for Free
Events in case of contingent contracts are:
- a)Collateral and Uncertain
- b)Certain and Collateral
- c)Collateral
- d)None of the above.
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Events in case of contingent contracts are:a)Collateral and Uncertainb...
Insurance contracts like death of a person, accidents etc are always uncertain they may or may not happen
Free Test
FREE
| Start Free Test |
Community Answer
Events in case of contingent contracts are:a)Collateral and Uncertainb...
Collateral and Uncertain
- Collateral: In contingent contracts, collateral refers to the security or guarantee that is provided by one party to the other to ensure that the contract is fulfilled. This collateral can take various forms such as a deposit, a property, or a financial instrument.
- Uncertain: Contingent contracts involve an element of uncertainty as the fulfillment of the contract is dependent on the occurrence or non-occurrence of a specific event in the future. This uncertainty can make it challenging to predict the outcome of the contract until the contingent event actually takes place.
- Contingent contracts are commonly used in various industries such as insurance, real estate, and finance where the parties involved want to protect themselves against potential risks or uncertainties.
- The collateral provided by one party in a contingent contract serves as a form of security for the other party in case the contingent event does or does not occur. This helps to ensure that both parties are protected and that there is some level of assurance in the contract.
- Overall, the combination of collateral and uncertainty in contingent contracts helps to manage risks, provide security, and create a framework for parties to enter into agreements even when the outcome is not entirely certain.
- Collateral: In contingent contracts, collateral refers to the security or guarantee that is provided by one party to the other to ensure that the contract is fulfilled. This collateral can take various forms such as a deposit, a property, or a financial instrument.
- Uncertain: Contingent contracts involve an element of uncertainty as the fulfillment of the contract is dependent on the occurrence or non-occurrence of a specific event in the future. This uncertainty can make it challenging to predict the outcome of the contract until the contingent event actually takes place.
- Contingent contracts are commonly used in various industries such as insurance, real estate, and finance where the parties involved want to protect themselves against potential risks or uncertainties.
- The collateral provided by one party in a contingent contract serves as a form of security for the other party in case the contingent event does or does not occur. This helps to ensure that both parties are protected and that there is some level of assurance in the contract.
- Overall, the combination of collateral and uncertainty in contingent contracts helps to manage risks, provide security, and create a framework for parties to enter into agreements even when the outcome is not entirely certain.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer?
Question Description
Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. 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 Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. 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 Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer?.
Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. 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 Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. 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 Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Events in case of contingent contracts are:a)Collateral and Uncertainb)Certain and Collateralc)Collaterald)None of the above.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup