Which of the following statement is NOT correct in the context of Indian Contract Act?
Answer & explanation
Correct answer: option 4
Differences Between Wager and Contingent Contract
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Wager |
Contingent Contract |
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Wager is an invalid contract. |
Contingent contracts are valid |
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In wager, there is always a reciprocal promise. |
In contingent contract, there is no reciprocal promise. |
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Third parties do not have interest in Wager. |
Third parties do not have interest in contingent contract |
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Wager is contingent in nature. |
Contingent contracts are never wagering. |