Can a Contingent Contract about an uncertain future event be-01126
This subjective question is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Mid Term Solved Past Paper No. 5.
Question 1: Can a Contingent Contract about an uncertain future event be enforcedIf yes, when can it be enforced; and if no, give reasons why it cannot be enforced.
Answer:
Yes, in contingent contract uncertain future even be enforced.
Contingent Contract (Sec. 31)
Contingent contract shall be explained in detail in later discussion on the topic.
A contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.
Illustrations:
M/S ABC insurance company contracts with Mr. Z to pay Rupees 500,000 if his car is lifted by thieves .
