Section 31 Indian Contract Act 1872
Section 31 of the Indian Contract Act 1872 is about “Contingent contract” defined. It is under CHAPTER III of the Act. CHAPTER III is titled OF CONTINGENT CONTRACTS.
“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 contracts to pay B Rs. 10,000 if Bs house is burnt. This is a contingent contract.
Section 30 Indian Contract Act 1872 (Agreements by way of wager, void)