About this document
Understanding Contingent Contracts by Arun Lemboy is a document available to read on EtoBox.
A contingent contract is an agreement where the performance of the terms depends on an uncertain future event. There are three essential elements: 1) Performance depends on a future uncertain event. 2) The event must be collateral or incidental to the contract. 3) The happening or non-happening of the event is beyond the control of the parties. A contingent contract becomes void if the future event is impossible. Wagering agreements differ in that they involve reciprocal promises where the sole purpose is w
- Author
- Arun Lemboy
- Language
- EN