In which of the following type of contra

CUET Preparation Today

Start Free Mocks

Home Questions 3QVAAJWRVN

Target Exam

CUET

Subject

Legal Studies

Chapter

Topics of Law

Question:

In which of the following type of contract, third parties may have an interest?

Options:

Wager contract

Contingent Contract

Both 1 and 2

None of the above

Correct Answer:

Contingent Contract

Explanation:

Differences Between Wager and Contingent Contract

Wager	Contingent Contract
Wager is an invalid contract.	Contingent contracts are valid
In wager, there is always a reciprocal promise.	In contingent contract, there is no reciprocal promise.
Third parties do not have interest in Wager.	Third parties do not have interest in contingent contract
Wager is contingent in nature.	Contingent contracts are never wagering.