Two statements are given in this question. One is labelled as Assertion (A) and the other is labelled as Reason (R). Examine these statements and select the correct combination of the codes. Assertion (A) : Collateral transaction to wagering agreement is enforceable by law. Reason (R) : Wagering agreement is not illegal.

The assertion is wrong - collateral transactions to a wagering agreement are NOT enforceable. Under Section 203 of the Indian Contract Act, agreements collateral to the main wagering agreement are also void. The reason is correct - wagering agreements are not illegal per se but are merely void and unenforceable. Therefore, only the reason is correct while the assertion is wrong.