Multiple choice

A contracts to pay B Rs. 20,000 if B’s house is burnt. It is a

  1. wagering contract

  2. quasi contract

  3. contingent contract

  4. illegal contract

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

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. A contracts to pay B Rs.10,000 if B's house is burnt. This is a contingent contract.