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A makes a contract with B to buy his house for Rs. 50,000 if he is able to secure a bank loan for that…

The purchase depends on securing the bank loan, a collateral uncertain event. Section 31 therefore treats it as a contingent contract. It is not a wager between the parties…

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A makes a contract with B to buy his house for Rs. 50,000 if he is able to secure a bank loan for that amount. The contract is

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Correct answer C

The purchase depends on securing the bank loan, a collateral uncertain event. Section 31 therefore treats it as a contingent contract. It is not a wager between the parties or a guarantee to discharge another person's default.

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