Question Description
The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CLAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.

Solutions for The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The question is based on the reasoning and arguments, or facts and principles set out in the passage. Some of these principles may not be true in the real or legal sense, yet you must conclusively assume that they are true for the purpose. Please answer the question on the basis of what is stated or implied in the passage. Do not rely on any principle of law other than the ones supplied to you, and do not assume any facts other than those supplied to you when answering the question. Please choose the option that most accurately and comprehensively answers the question.Sir William Anson defines wager as a promise to give money or moneys worth upon the determination or ascertainment of an uncertain event. The word wager means a bet something stated to be lost or won on the result of an uncertain issue; hence, wagering agreements are ordinary betting agreements. The Indian Contract Act, 1872 does not define wager or a wagering agreement. It only states that agreements by way of the wager will be void and no action can lie to contracting parties to recover anything or claim performance of the wagering agreements. A wagering agreement has the characteristic of a contingent contract but is not enforceable by Section 30. A wagering agreement depends upon an uncertain event. The parties to the agreement have uncertainty in the minds about the determination of the event in one way or another. A wager may be based on a future event or even relate to a past event and the parties are not aware of the outcome of its happening. In a wagering agreement, two parties must have mutual chances of gain and loss, i.e. one party will win and the other will lose depending on the outcome of the event. Each party should stand to win or lose upon the determination of the contemplated event in reference to which the chance or risk is taken.It is not a wager where one party may win but cannot lose, or it may lose but cannot win, or if it can neither win nor lose. If one of the parties has the event in his own hands, the transaction lacks an essential ingredient of a wager. Neither party should have any interest in happening or non-happening of the event other than the sum he will win or lose. If either party has some other interest other than the sum he will win or lose, it will not be a wager. The parties to the contract should not have any control over the happening of the event one way or the other.The wagering agreement must contain a promise to pay money or moneys worth. Insurance contracts are contracts of indemnity. They are entered into, to safeguard the interest of one party to the contract. In this contract, the insured has insurable interest in the property or life. Hence, it is not a wager. Skill competitions are not said to be wagers since the winning of such events requires a substantial amount of skill and is not dependent on the probability of an uncertain event.Q.An inter-college football match was to be held in Indore between St. Martins College and St. Jones College. If St. Martins wins the match, Jo agrees to pay Rs. 5,000, whereas if St. Jones wins, Nia will pay 5,000 to Jo. Decide.a)This is a wagering agreement as there is an equal chance of both the parties to win or lose and is a valid contract.b)This is not a wagering agreement as it is a personal agreement between friends.c)This is a wagering agreement as both have agreed to it for the chance to win and lose and the agreement is void.d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CLAT tests.