In a Wagering Agreement?
A Contract by Which a Promisor Agrees That Upon the Occurrence of an Uncertain Event or Condition He or She Will Render a Performance for Which There Is No...
: a contract by which a promisor agrees that upon the occurrence of an uncertain event or condition he or she will render a performance for which there is no agreed consideration exchanged, and under which the promisee or the beneficiary of the contract is not made whole for any loss caused by such occurrence (as in ...
What is meant by wagering agreement?
What is a Wagering Agreement? Agreements entered into between parties under the condition that money is payable by the first party to the second party on the happening of a future uncertain event, and the second party to the first party when the event does not happen, are called Wagering Agreements or Wager.
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What is wagering contract example?
Example 1: A and B agree with each other that if it rains on Tuesday, A will pay Rs. 100 to B and if it does not rain on Tuesday, B will pay A Rs. 100. Such an agreement is a wagering agreement and hence is void.
Robert Thorne covers electric vehicle innovations, autonomous driving systems, global mobility trends, and automotive engineering developments.
