Multiple choice

A wagering agreement is

  1. a promise to give money or money’s worth upon the determination or ascertainment of an uncertain future event

  2. money’s worth upon the determination or ascertainment of a certain future event

  3. a promise to give money or money’s worth upon the happening of future event the outcome of which is predetermined

  4. a promise to give money or money’s worth upon the non-happening of certain future events the outcome of which is predetermined
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A Correct answer
Explanation

A wagering agreement is a promise where parties agree to give money or money's worth based on determining an uncertain future event. The key element is uncertainty - if the outcome is predetermined, it's not a wager. Such agreements are void under Section 30 of the Indian Contract Act.

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