Explanation:

An agreement to pay a time-barred debt refers to a situation where a person agrees to pay a debt that is no longer enforceable in a court of law due to the expiration of the prescribed period of limitation.

In general, a time-barred debt is considered unenforceable as it is beyond the legal timeframe within which a creditor can file a lawsuit to recover the debt. However, it is important to note that the expiration of the prescribed period of limitation does not automatically extinguish the debt or render it void. It simply means that the creditor cannot seek legal remedies to recover the debt.

Void Agreements:

1. Wagering Agreement: A wagering agreement is one in which two parties agree to bet on the outcome of an uncertain event. Such agreements are expressly declared void as they are considered to be based on chance and involve speculation rather than a legitimate contract.

2. Agreement the meaning of which is uncertain: An agreement must have a certain and definite meaning in order to be enforceable. If the meaning of an agreement is uncertain or vague, it cannot be enforced by the court. Therefore, agreements with uncertain meanings are considered void.

3. Consideration unlawful in part: Consideration refers to something of value that each party to a contract gives or promises to give to the other. If the consideration involved in an agreement is partially unlawful, the agreement is void to the extent of the unlawful part. In other words, if a contract includes an illegal or immoral consideration, the entire contract becomes void.

Agreement to pay a time-barred debt:

Unlike the other options mentioned, an agreement to pay a time-barred debt is not expressly declared void under the Indian Contract Act, 1872. While it may not be enforceable in a court of law, it does not render the agreement itself void. Parties can still voluntarily agree to pay a time-barred debt, but the creditor cannot seek legal remedies for its recovery.

Therefore, the correct answer is option B - Agreement to pay a time-barred debt.

B) Agreement to pay time barred debts
Reason: As it is on the will of the promisee to repay his/her debt even after the lapse of time however a promisor cannot take action on an agreement which is barred due to limitation act.
So, it is upto promisee whether to pay or not and no consideration will be needed in this case hence it is not expressly declared as void.