Correct option is B
This is a
Contingent contract as per
Section 31 of the Indian Contract Act, 1872. A Contingent contract is a contract where the performance depends on the occurrence of an uncertain future event. In this case, the contract depends on the event of B's house being burnt, which is a contingent event.
Information Booster: Contingent contracts depend on the happening or non-happening of a specific event, making them enforceable only if that event occurs.
Additional Knowledge:
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(a) Simple contract: Incorrect, as this contract has a condition attached.
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(c) Conditional contract: Incorrect, though close, the contingent is the specific term under the law.
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(d) Incorrect, as the correct term is "contingent."
