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CONTINGENT CONTRACTS

Introduction ‘Contingent Contract’ means enforceability of that contract directly depends upon an event’s happening or not happening. example:– A contracts to pay B 1,00,000 if B’s house is burnt. This is a contingent contract Section 31 of The Indian Contract Act, 1872 defines the term Contingent Contract “A contract to do or not to do […]

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QUASI CONTRACT

Introduction A valid contract must contain certain essential elements, such as offer and acceptance, capacity to contract, consideration, and free consent. Quasi contract-But sometimes the law implies a promise imposing obligations on one party and consulting right in favor of the other even when there is no offer, no acceptance, no genuine consent, lawful consideration,

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