Conditional Contract ( Contingent Contract )

• A contract to do or not to do something , if some event , collateral to the contract , does or does not happen . 
• Example : X contracts to pay $10,000 if Y's house is burnt . (Here , "Y's house is burnt" is a condition precedent to the formation of the contract ).
• General rule : Conditional contracts to do or not to do anything if an uncertain future event happens cannot be enforced by law unless and until that event has happened . If the event becomes impossible , such contracts become void.