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Contingent contracts are
Illegal
not contract at all
wagering in nature
None of the
- Option 1: Illegal
Contingent contracts are not illegal. They are valid, provided the event they hinge upon is lawful and possible.
- Option 2: Not contract at all
Contingent contracts are indeed contracts. They are agreements that hinge on the occurrence or non-occurrence of an uncertain future event.
- Option 3: Wagering in nature
While some contingent contracts may seem like wagers, they are not necessarily so. A wagering contract specifically involves mutual promises where gain or loss depends on an uncertain event. Not all contingent contracts qualify as such.
- Option 4: None of the above
None of the given options accurately describe contingent contracts.
Correct Answer: Option 4 - None of the above
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