The Path to a Greener Future: Understanding Sustainable Development In an era where environmental challenges and resource depletion are becoming increasingly evident, the concept of sustainable development has gained significant importance. Sustainable development aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. This blog post will explore the principles, goals, and strategies of sustainable development, highlighting its critical role in ensuring a balanced and healthy future for our planet. "Transforming our world: The path to sustainable development." What is Sustainable Development? Sustainable development is a holistic approach that integrates economic growth, environmental protection, and social equity. It seeks to create a harmonious relationship between human activities and the natural world, ensuring that resources are used efficiently and responsibly. Definition: The most widely recognized de...
Definition: “A contingent contract is a contract to do or not to do something, if some event, collateral to such act, does or does not happen.”
In short, a contract which is dependent upon the happening or non-happening of an uncertain future event, is said to be a contingent contract.
For example: A contracts to pay ‘B’ Rs. 10,000 if B’s house is burnt. This is a contingent contract depending on the happening of future uncertain event i.e. fire.
Essentials of Contingent Contracts:
1. Contingent contract is a kind of conditional contract, which must be uncertain.
2. The contingent event must be collateral to contract.
3. Performance depends upon happening or non-happening of future event.
4. Contingency also depend on the will of a person.
5. A contingent contract are enforceable under sections 32 – 36.
In short, a contract which is dependent upon the happening or non-happening of an uncertain future event, is said to be a contingent contract.
For example: A contracts to pay ‘B’ Rs. 10,000 if B’s house is burnt. This is a contingent contract depending on the happening of future uncertain event i.e. fire.
Essentials of Contingent Contracts:
1. Contingent contract is a kind of conditional contract, which must be uncertain.
2. The contingent event must be collateral to contract.
3. Performance depends upon happening or non-happening of future event.
4. Contingency also depend on the will of a person.
5. A contingent contract are enforceable under sections 32 – 36.
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