Multiple choice

Raman entered into a contract with Sohan to pay him a sum of Rs. 3000 if India wins the World Cup, while Sohan to pay Rs. 3000 to Raman if India did not win the World Cup. It is a

  1. contingent contract

  2. wagering contract

  3. goodwill contract

  4. voidable contract

  5. both contingent and wagering contract
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A wagering contract is one where two persons hold opposite views on a future uncertain event and mutually agree that depending on the determination of that event, one shall win from the other and then other shall pay a sum of money. So, the above mentioned contract is a wagering contract.

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