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Central Government Act
Section 31 in The Indian Contract Act, 1872
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. —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." Illustration A contracts to pay to B Rs.10,000 if B’s house is burnt. This is a contingent contract. A contracts to pay to B Rs.10,000 if B’s house is burnt. This is a contingent contract."