Multiple choice

A contract to do or not to do something if some event, collateral to such contract does or does not happen is

  1. a contingent contract

  2. a wagering contract

  3. illegal

  4. void
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A contingent contract depends on a future uncertain event collateral to the contract itself (like insurance contracts). It differs from wagering (which is based on pure chance) and is not inherently illegal or void. The key is the collateral event and enforceability.

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