Harsh Mangalam, School of Law, GITAM University, Visakhapatnam
ABSTRACT
A contingent contract is something that all of us regularly use, like contracts of insurance; therefore, the knowledge of such an important area of our day- to-day life becomes quite essential. The project discusses the meaning of contingent contracts according to the Indian Contract Act, 1872 and the various conditions required by the agreement to become a contingent contract.
The sections discussed in the study are Section 31, which deals with the meaning of a contingent contract and the conditions of enforceability, and Sections 32 to 36. The project highlights these sections with relevant case laws, explanations and illustrations, and the study also sheds light upon the day-to-day uses of contingent contracts.
