Question 2 OR (a) part i
Wagering agreement and contingent contract
4.5 marks
- Time to write
- About 9 minutes
From an older CBCS paper
Question
Question 2 OR (a) part i · 4.5 marks- Distinguish between a ‘Wagering Agreement’ and a ‘Contingent Contract’.
Reworded from the university paper; the task is the same. The original paper belongs to the University of Delhi. See DU's question bank.
Before you write
Read off the question and its marks
Read from the question
- Distinguish betweenSet the differences out in a table, basis by basis, not as two separate essays.
What the paper leaves open
The only copy of this paper found is cut off at the right edge of the page; the few words lost there are read from the sense and from the Hindi version of the question. Marked as one question of 9 marks; answered here in 2 parts of 4.5 marks each (marks inferred).
Write it in this order
- Read; underline the asks; jot your points 1 min
- 1 (i) Wagering agreement and contingent contract 4½ marks 8 min
Try it first. About 9 minutes for 4.5 marks. Write it out, then open the solution.
Solution
Hover or tap a marked figure, like 72,000, to see how it is made and where else it appears.
(i) Wagering agreement and contingent contract. “A contingent contract is a contract to do or not to do something if some event, collateral to” the contract, does or does not happen (s. 31); contracts of insurance, indemnity and guarantee are examples. A wagering agreement is a promise to pay money, or something of money's value, depending on whether an uncertain event happens or not; it is void.
| Basis | Wagering agreement | Contingent contract |
|---|---|---|
| Validity | Void (s. 30) | Valid (s. 31) |
| Nature | A bet: each party stands to win or lose | Performance depends on a collateral event |
| Interest | No interest except the stake | The parties have a real interest, as in insurance |
| Example | Payment if a horse wins a race | An insurer agrees to pay a shop owner ₹5,00,000 if his stock is destroyed by flood |
Where the 4.5 marks sit
| # | Component | Marks |
|---|---|---|
| 1 | (i) Wagering agreement and contingent contract | 4.5 |
| Total | 4.5 |
Report a problemopens an email to admin@getkunji.com with the question ID7762-Q2aORialready filled in.