3 Questions
Which of the following is a key rule related to enforcing a contingent contract?
The contract must be in writing
What is a contingent contract?
A contract that is dependent on the occurrence of a specific event
What is the consequence of not fulfilling a contingent contract?
The contract can still be enforced
Study Notes
Contingent Contracts
- A contingent contract is a type of contract that is dependent on the occurrence of a future uncertain event.
- It is a contract that specifies a condition or event that must occur before the contract can be enforced or take effect.
Key Rules and Consequences
- One key rule related to enforcing a contingent contract is that the contract is only enforceable if the specified condition or event occurs.
- If the contingent condition or event does not occur, the contract is not enforceable.
- The consequence of not fulfilling a contingent contract is that the contract is considered void or unenforceable, and the parties are not bound by its terms.
Test your knowledge on enforcing contingent contracts with this quiz! Discover what a contingent contract is and the crucial rule that applies to its enforcement. Learn about the consequences of failing to fulfill a contingent contract. This quiz is perfect for anyone interested in contract law or those seeking to enhance their legal knowledge.
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