CHAPTER-3 OF THE INDIAN CONTRACT ACT, 1872



INDIAN CONTRACT ACT, 1872
Chapter- 3


Section- 31 [Contingent contract defined]


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.

Section- 32 [Enforcement of contracts contingent on an event happening]


Contingent contracts to do or not to do anything in an uncertain future event happens, cannot be enforced by law unless and until that event has happened. If the event becomes impossible, such contracts become void.

Section- 33 [Enforcement of contracts contingent on an event non happening]


Contingent contracts to do or not to do anything if an uncertain future event does not happen, can be enforced when the happening of that event becomes impossible, and not before.

Section- 34 [When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person]


If the future event on which a contract is contingent is the way in which a person will act at an unspecified time, the event shall be considered to become impossible when such person does anything which renders it impossible that the should so act within any definite time, or otherwise than under further contingencies.

Section- 35 [When contracts become void, which are contingent on happening of specified event within fixed time ]


Contingent contracts to do or not to do anything, if a specified uncertain event happens within a fixed time, become void, if, at the expiration of the time fixed, such event has not happened, or if, before the time fixed, such event becomes impossible.

When contracts may be enforced, which are contingent on specified event not happening within fixed time : Contingent contract tutu or not to do anything, if a specified uncertain event does not happen within a fixed time, may be enforced by law when the time fixed has expired and such event has not happened, or before the time fixed has expired, if it become certain that such event will not happen.

Section- 36 [Agreement contingent on impossible event void]


Contingent agreements to do or not to do anything, if an impossible event happens, are void, whether the impossibility of the event is known or not to the parties to agreement at the time when it is made.

Comments

Post a Comment

Popular posts from this blog

No Consideration No Contract’ - Exceptions To The Rule

Image
Section 25 defines exceptions to rule an agreement without consideration is void- An agreement made without consideration is void, unless – (1) it is expressed in writing and registered under the law for the time being in force for the registration of documents, and is made on account of natural love and affection between parties standing in a near relation to each other; or unless. (2) it is a promise to compensate, wholly or in part, a person who has already voluntarily done something for the promisor, or something which the promisor was legally compellable to do; or unless. (3) it is a promise, made in writing and signed by the person to be charged therewith or by his agent generally or specially authorised in that behalf, to pay wholly or in part debt of which the creditor might have enforced payment but for the law for the limitation of suits. In any of these cases, such an agreement is a contract. Explanation 1 : Nothing in this section shall affect the validity, as be
Read more articles»

SOURCES OF LAW

Image
"No man is above the law and no man is below it; nor do we ask any man's permission when we ask him to obey it. Obedience to the law is demanded as a right;not asked as a favor."            -(Theodore Roosevelt)                               Law is the result of development and a product of history Several factors have contributed to the development of law. These factors are regarded as the source of law. The sources of law are customs, religion, judicial decisions, scientific commentaries, equity and legislature. (1) Custom or usage.— Custom is to society, what law is to the State. Custom is the earliest source of law. Salmond says, "Custom is the embodiment of those principles which have commended themselves to the national conscience as principles of justice and public utility".  Customs or usages are those practices followed repeatedly by people, generation after generation for the sake of their convenience. A custom is formed in muc
Read more articles»

Superwomen of India

Image
                             ( in legal and political field ) Women are leaders everywhere you look -- from the CEO who runs a Fortune 500 company to the housewife who raises her children and heads her household. Our country was built by strong women, and we will continue to break down walls and defy stereotypes.                                                                        -Nancy Pelosi 👩‍🏫👩‍⚖️👩‍🌾👩‍🍳👩‍🔧👩‍🏭👩‍💼👩‍🔬👩‍💼👩‍💻👩‍🎤👩‍🎨👩‍✈️👩‍🚀👩‍🚒 Women have showed their power in every field and they are no less than men. They should be respected in the society and given the opportunities for their overall developments. There are many great ladies who are ideal example that women can do wonders. Let's not forget them and their achievements. So, I am here mentioning about some wonder women who have achieved milestones in their life and proved their capacities and capabilities. Mrs. Vijayalakshmi Pandit is the first woman minister of
Read more articles»