PPT - Contingent and Quasi Contract CA Foundation Notes | EduRev

Business Laws for CA Foundation

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CA Foundation : PPT - Contingent and Quasi Contract CA Foundation Notes | EduRev

 Page 1


CPT Section B Chapter 1 Mercantile Law Unit 6 
CA Nikshit HV Shah 
 
Page 2


CPT Section B Chapter 1 Mercantile Law Unit 6 
CA Nikshit HV Shah 
 
Concept of contingent contract 
Concept of quasi contract 
Essentials and Rules 
Page 3


CPT Section B Chapter 1 Mercantile Law Unit 6 
CA Nikshit HV Shah 
 
Concept of contingent contract 
Concept of quasi contract 
Essentials and Rules 
Contract 
Contingent 
Absolute 
Promisor undertakes 
to perform the 
contract in any event 
without any condition. 
A contract to do or 
not to do something, 
if some event 
collateral to such 
contract, does or 
does not happen 
Page 4


CPT Section B Chapter 1 Mercantile Law Unit 6 
CA Nikshit HV Shah 
 
Concept of contingent contract 
Concept of quasi contract 
Essentials and Rules 
Contract 
Contingent 
Absolute 
Promisor undertakes 
to perform the 
contract in any event 
without any condition. 
A contract to do or 
not to do something, 
if some event 
collateral to such 
contract, does or 
does not happen 
The performance of a CC is made dependent upon the 
happening or non-happening of some event. 
A contract may be subject to a condition precedent or 
subsequent. 
The event is collateral to the contract, i.e., it does not form 
part of the reciprocal promises which constitute the contract. 
The contingent event should not be the mere will (completely 
controllable) of the promisor. 
Page 5


CPT Section B Chapter 1 Mercantile Law Unit 6 
CA Nikshit HV Shah 
 
Concept of contingent contract 
Concept of quasi contract 
Essentials and Rules 
Contract 
Contingent 
Absolute 
Promisor undertakes 
to perform the 
contract in any event 
without any condition. 
A contract to do or 
not to do something, 
if some event 
collateral to such 
contract, does or 
does not happen 
The performance of a CC is made dependent upon the 
happening or non-happening of some event. 
A contract may be subject to a condition precedent or 
subsequent. 
The event is collateral to the contract, i.e., it does not form 
part of the reciprocal promises which constitute the contract. 
The contingent event should not be the mere will (completely 
controllable) of the promisor. 
There must be a valid contract 
Performance must be conditional 
Event must be future + uncertain 
Event must be collateral to the contract 
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