Multiple choice

The difference between contingent contract and wagering agreements are as follows

  1. A wagering agreement consists of reciprocal promises whereas a contingent contract may not contain reciprocal promises.

  2. In a wagering agreement the uncertain event is the sole determining factor while in a contingent contract the event is only collateral.

  3. A wagering agreement is void whereas a contingent contract is valid.

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All three statements correctly distinguish contingent contracts from wagering agreements. Wagering agreements have reciprocal promises and the uncertain event is the sole determining factor, making them void under Section 30. Contingent contracts may or may not have reciprocal promises, and the uncertain event is only collateral to the main purpose, making them valid.

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