Which of the following statement is NOT

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Target Exam

CUET

Subject

Legal Studies

Chapter

Topics of Law

Question:

Which of the following statement is NOT correct in the context of Indian Contract Act?

Options:

wager is an invalid contract while the contingent contracts are valid.

in wager there is always a reciprocal promise while in contingent contract there is no reciprocal promise.

third parties do not have an interest in a wager contract while third parties may have an interest in a contingent contract

none of the above

Correct Answer:

none of the above

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.