What Is Meant By Contingent Agreement
Conditional contracts allow the parties to reach an agreement by managing uncertainty about the future. Just make sure that the penalties (or rewards) you offer are sufficiently unelifiable (or tempting) to motivate the other party to stay on target. The provisions relating to the execution of the conditional contract are given in §§ 32 to 36 as follows: Many lawyers take on certain types of cases on a conditional basis. The lawyer does not charge the client for money in advance, but receives a percentage of the proceeds when he settles or wins the case. Often, the fee depends on the amount claimed. Some jurisdictions do not allow contingency fee agreements in the event of divorce or criminal cases. Read more Contingency can be of two types: the occurrence of an event and the non-passage of an event. If the contract is enforceable, the performance contract is enforceable. It is provided for in sections 32 to 35 of the Act. Paragraph 36 provides for a conditional agreement which is void on the ground that it is impossible. The event cannot set the time or time. Not passing the time of the event can be corrected.
Insofar as the period specified by the parties for the occurrence of the event, this is the subject of § 35 (1). Insofar as the time limit specified by the parties for the non-occurrence of an event, this is the subject of § 35 (2). In addition, an emergency agreement can be a very useful, although largely neglected, tool for creating value in negotiations. .