Contingent contracts to do nor not to do anything if a specified uncertain event happened within a f...........

Professional Legal Knowledge Law of contract

Contingent contracts to do nor not to do anything, if a specified uncertain event happened within a fixed time, become .............., if, at the expiration of the time fixed, such event has not happened, or if, before the time fixed, such event becomes impossible:

Bad

Valid

Void

Voidable

Explanation:

The correct answer is Option 3: Void.

Explanation:
A contingent contract is one that depends on the occurrence of a specified uncertain event. If the event does not happen within the fixed time, or if it becomes impossible before the time expires, the contract becomes void. Under Section 32 of the Indian Contract Act, 1872, such contracts are automatically void when the event does not take place as per the conditions set out in the agreement. This means that the contract loses its enforceability when the contingency fails to materialize.