Multiple choice

Consider the following statements regarding vested and contingent rights:

  1. A vested right creates an immediate interest and is transferable and heritable.
  2. A contingent right creates an immediate interest and is defeated when the required facts have not occurred.

Which of the statements given above is/are correct?

  1. 1 only

  2. 2 only

  3. Both 1 and 2

  4. Neither 1 nor 2
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When the right, interest, or title to the present or future possession of a legal estate can be transferred to any other party, it is termed as vested interest. A contingent right is a right that depends on a future event or the performance of an action.

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