ICA Chapter 3: Contingent Contracts

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Check contingent contracts

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1. 1.What makes a contract 'contingent' under section 31?

   It is unsignedIts performance depends on a collateral event happening or not happeningIt has more than two partiesIt concerns only future goods
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   Not quite

   Section 31 ties the obligation to the happening or non-happening of an event collateral to the contract.

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2. 2.How does section 36 treat an agreement contingent on an impossible event?

   It is voidIt is automatically extendedIt is enforceable after one yearIt becomes a guarantee
   Check answer

   Not quite

   Section 36 makes such agreements void whether or not the parties knew the event was impossible when they agreed.

   Read section 36 →