Question

A _____________ is a contract to do or not to do something, if an uncertain future event happens. It also cannot be enforced by law unless and until that event has happened. If the event becomes impossible, such contracts become void.

• A. Contingent contract
• B. Quasi contract
• C. Breach of contract
• D. Voidable contract

Answer 1

The Correct Option is A

In legal studies, the term that fits this definition is a Contingent contract. A contingent contract is a contract to do or not do something, dependent on the occurrence or non-occurrence of an event in the future. 

These contracts are enforceable only if the event specified in the contract happens. If the event becomes impossible, the contingent contract is rendered void. It's an agreement whose fulfillment is subject to an uncertain future event.

Options	Description
Contingent contract	Contract dependent on an uncertain future event
Quasi contract	Obligation imposed by law to prevent unjust enrichment
Breach of contract	Failure to perform any term of a contract without a legitimate legal excuse
Voidable contract	A valid contract that can be voided at the option of one of the parties