Home | ARTS | Business Environment and Law | Difference Between A Contingent Contract And Wagering Agreement-Law Of Contract

Business Environment and Law-Law Of Contract (Indian Contract Act 1872)

Difference Between A Contingent Contract And Wagering Agreement-Law Of Contract

   Posted On :  07.05.2018 10:23 pm

Difference Between A Contingent Contract And Wagering Agreement-Law Of Contract

Difference Between A Contingent Contract And Wagering Agreement
 
The main points of distinction between the two are as under:

  • A contingent contract is a valid contract but wagering agreement is absolutely void.
  • Parties have real interest in the occurrence but non-occurrence of the event e.g., insurable interest in the property insured. Parties are not interested in the occurrence of the event except for the winning or losing the bet amount.
  • Future uncertain event is merely collateral: uncertain event is the sole determining factor of the agreement.
Tags : Business Environment and Law-Law Of Contract (Indian Contract Act 1872)
Last 30 days 88 views

OTHER SUGEST TOPIC