Practicing Success

Target Exam

CUET

Subject

Legal Studies

Chapter

Topics of Law

Question:
A agrees to give Rs.Rs 10000 to B if India wins the match on 16th August. B agrees to pay A the same amount if India does not win the match. This agreement is a :
Options:
Contingent Contract
Wager
Illegal Contract
Any of the above
Correct Answer:
Wager
Explanation:
Wager is a contract where one person promises to pay the other money on the happening of an uncertain future event and the other person promises to pay on the non-happening of the event. There is a reciprocal promise involved in a wager. Wager is like a bet where the happening of an uncertain event is the condition on which the promise depends.