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CA Foundation Contingent and Quasi Contracts — practice questions

Explore 51 free Contingent and Quasi Contracts questions in CA Foundation Businesslaw. Open each question or exercise to read its content, reference answers and available explanation.

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Contingent and Quasi Contracts questions and exercises with answers

Showing questions 1–30 of 51.

Which of the following are typical examples of contingent contracts?Read the answer and worked solution →For a contract to be contingent, the collateral event must be:Read the answer and worked solution →In a quasi-contract, the obligation is:Read the answer and worked solution →Under Section 71, a person who finds goods belonging to another and takes them into custody is subject to the same responsibility as:Read the answer and worked solution →Under Section 72, money paid or a thing delivered by mistake or under coercion:Read the answer and worked solution →A finder of lost goods is entitled to retain them against:Read the answer and worked solution →A contract whose collateral event is certain or bound to happen is:Read the answer and worked solution →A contract of insurance is an example of which type of contract?Read the answer and worked solution →Under the Indian Contract Act, a contingent contract depends on an event that isRead the answer and worked solution →A promises to pay B Rs 10,000 if B's house is burnt. This contract isRead the answer and worked solution →Which section bars enforcing a contract contingent on an event until that event happens?Read the answer and worked solution →A contract to act if an uncertain future event happens can be enforcedRead the answer and worked solution →If the event on which a contingent contract depends becomes impossible, the contract becomesRead the answer and worked solution →A agrees to buy B's horse if A survives C. This can be enforced only whenRead the answer and worked solution →A contracts to pay B a sum when B marries C. C dies unmarried to B. The contract becomesRead the answer and worked solution →A agrees to pay B if a ship does not return. The ship is sunk. The contract is enforceableRead the answer and worked solution →A contract contingent on an uncertain event not happening is enforceable when that event becomesRead the answer and worked solution →A agrees to pay B if B marries C. C marries D. The marriage of B to C is treated asRead the answer and worked solution →Which section treats the future conduct of a living person as an event that may become impossible?Read the answer and worked solution →A promises to pay B if a ship does not return within a year. The ship burns within the year. The contractRead the answer and worked solution →A agrees to pay B 1,000 rupees if two straight lines should enclose a space. The agreement isRead the answer and worked solution →A agrees to pay B if B marries A's daughter C, already dead. The agreement isRead the answer and worked solution →Which section declares agreements contingent on impossible events void?Read the answer and worked solution →Which section covers a fixed-time event not happening, enforced once time expires?Read the answer and worked solution →Which section requires reimbursement for necessaries supplied to a person incapable of contracting?Read the answer and worked solution →A supplies necessaries suited to a lunatic B's condition in life. A can recover the cost fromRead the answer and worked solution →Necessaries supplied to a person incapable of contracting must be suited toRead the answer and worked solution →Which section lets a person interested in paying another's legal dues claim reimbursement?Read the answer and worked solution →B, A's lessee, pays A's land revenue arrears to save his lease. B can recover from ARead the answer and worked solution →A person who pays money another is bound by law to pay can claim reimbursement if he isRead the answer and worked solution →

Worked practice questions

Which of the following are typical examples of contingent contracts?

  1. Wagering agreements
  2. Sale and lease agreements
  3. Gift and exchange agreements
  4. Contracts of insurance, indemnity and guarantee
Show answer and solution

Correct answer: D. Contracts of insurance, indemnity and guarantee

Contracts of insurance, indemnity and guarantee depend on a collateral uncertain event and are classic contingent contracts.

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For a contract to be contingent, the collateral event must be:

  1. Already past
  2. Uncertain
  3. Certain to happen
  4. Within the promisor's sole will
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Correct answer: B. Uncertain

The event must be uncertain if it is certain or bound to happen, the contract is merely due to be performed and is not contingent.

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In a quasi-contract, the obligation is:

  1. Owed to the world at large
  2. Dependent on a collateral event
  3. Imposed by law
  4. Created by the agreement of the parties
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Correct answer: C. Imposed by law

Unlike a true contract created by consent, a quasi-contractual obligation is imposed by law and is owed to a particular person, not the world at large.

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More Businesslaw topics

Negotiable Instruments Act 1881Nature of ContractsAgencyThe Limited Liability Partnership Act 2008PartnershipContract of Indemnity and GuaranteeBreach of Contract and its RemediesPerformance of Contract