Scribd
Upload
58 views4 pages

Dr. Ram Manohar Lohiya National Law University: Wagering Agreement

This document provides a synopsis on wagering agreements. It first defines a wagering agreement as an agreement where money is paid by one person to another based on an uncertain future event. Second, it states that the objective of the project is to address ambiguities in how wagering agreements are defined and treated under Indian contract law. Finally, it concludes that while wagering agreements are void, not all void agreements are illegal, and it must be determined if a specific wagering agreement violates other laws.

Uploaded by

BENE FACTOR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
58 views4 pages

Dr. Ram Manohar Lohiya National Law University: Wagering Agreement

This document provides a synopsis on wagering agreements. It first defines a wagering agreement as an agreement where money is paid by one person to another based on an uncertain future event. Second, it states that the objective of the project is to address ambiguities in how wagering agreements are defined and treated under Indian contract law. Finally, it concludes that while wagering agreements are void, not all void agreements are illegal, and it must be determined if a specific wagering agreement violates other laws.

Uploaded by

BENE FACTOR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

CONTRACT LAW SYNOPSIS

Dr. RAM MANOHAR LOHIYA NATIONAL


LAW UNIVERSITY

CONTRACT LAW SYNOPSIS

Synopsis
On

WAGERING AGREEMENT

Submitted to Submitted by

Dr. Priya Anuragini Abhilash Kumar Gaur


Asst. Prof. (Law) Roll No. 004
1ST Year (1ST Semester)
CONTRACT LAW SYNOPSIS

TABLE OF CONTENTS

PREFACE..................................................................................................................................3

TENTATIVE CHAPTERIZATION..........................................................................................3

1. What is Wagering Agreement.........................................................................................3

2. Objective for doing this project......................................................................................3

3. Conclusion.......................................................................................................................3

BIBLIOGRAPHY......................................................................................................................4
CONTRACT LAW SYNOPSIS

PREFACE
In simple words, a wagering agreement is an agreement under which money or money worth
is payable, by one person to another on the happening or non happening of some future
uncertain event may take many forms in real life but the common features of a bet would be
found in each form.

TENTATIVE CHAPTERIZATION

1. What is Wagering Agreement


The Black’s Law Dictionary meaning of the term wager means something risked, such as a
sum of money on an uncertain event in which the parties have no material interest other than
mutual chances of “gain or loss.” Thus when two parties agree on the condition that the first
party will pay a fixed sum of money to the second party on the happening of an uncertain
future event and the second party will pay the first party when the event does not happen, it is
called a wagering agreement.

2. The objective for doing this project


A lot of inconveniences are faced by the judiciary while dealing with what exactly constitutes
a wager and what comes within the ambit of wagers since the Indian Contract Act, 1872, does
not define what constitutes a wager. Section 30 only mentions that all wagering agreements
shall be void and enforceable, leaving its interpretation subject to a lot of ambiguity.
Therefore the definition of the term wager should be amended, and the scope of this section
be widened.

3. Conclusion
Although all illegal agreements are void and unenforceable by law, yet all void agreements
are not illegal or immoral or as opposed to public policy. Therefore through all wagering
agreements are void and unenforceable by law. Yet, in a wagering agreement, it is essential to
determine if such an agreement is also unlawful under Section 23 of the Indian Contract Act
to test its legality.
CONTRACT LAW SYNOPSIS

BIBLIOGRAPHY
 http://jlsr.thelawbrigade.com/wp-content/uploads/2018/04/Prakaash-M.docx
 https://www.ourcommons.ca/MarleauMontpetit/DocumentViewer.aspx?
DocId=1001&Sec=Ch17&Seq=0&Language=E
 https://www.essay.uk.com/coursework/advantages-and-disadvantages-of-delegated-
legislation.php
 https://www.abyssinialaw.com/online-resources/study-on-line/item/309-the-nature-
and-definition-of-delegated-legislation

You might also like