A contingent contract is a type of contract where the performance of contractual obligations is dependent on the occurrence or non-occurrence of a specific event. In other words, the contract is conditioned upon the happening or not happening of a future uncertain event.

There are two main types of contingent contracts:

1. **Conditional Contracts:** These are contingent on the occurrence or non-occurrence of a specific event. For example, a contract to purchase goods might be contingent on the goods passing a quality inspection.

2. **Wagering Contracts:** These involve the payment of money or delivery of goods based on the happening or non-happening of a future uncertain event. Wagering contracts are often void unless they fall within specific legal exceptions, such as insurance contracts.

Contingent contracts are legal and enforceable as long as they comply with the requirements of a valid contract, including free consent, legality of object, and consideration.