Contingent contracts Meaning Section 31 of the Indian Contracts Act 1872 deals with contingent contracts, which means the contingent contracts depend on the happening or non-happening of an event. This contract depends on unconditioned events that are to occur in the future. Illustration- X comes into a contract with Y to pay him Rs. 20,000 if he damages his car this can be termed as a contingent contract where the contract is based on a future event. A contract of insurance is a type of ... CONTINGENT meaning: 1. a group of people from the same country, organization, etc who are part of a much larger group…. Learn more. As an adjective, "contingent" refers to something that is dependent on certain conditions or circumstances . For example, a contingent event is one that may or may not happen, depending on other factors. CONTINGENT meaning: 1. a group of people representing an organization or country, or a part of a military force: 2…. Learn more.
