Wagering Agreement And Contingent Agreement

2. A conditional contract does not have to be a gamble. Thus, we can say that all betting agreements are contingent, but not all contingency contracts are bet. 5. A conditional contract is of independent interest. example. A is insured from his house. This is a conditional contract, because A has an independent interest in this case. 1. A conditional contract has been defined as a contract to do or not to do anything when such a contract occurs or does not occur. A quota agreement is broader. 5.

In a conditional contract, future events are only guarantees. The following differences are between the wagering agreement and the quota agreement: 4. In a bet, the parties are not interested in the purpose of the agreement, except to win or lose the amount. Although bet is a conditional agreement, but there are some points of difference between the two: 6. example. A promise to pay 100 r. to B if it rains on Monday. It is a betting agreement, because A has no independent interest.

4. Example. A promises B to pay 1,000 DS if a ship doesn`t return. Here, made a promise of payment, but B does not make a similar promise to pay A. 1. Betting is an agreement by which one person agrees to pay money to the other if an uncertain event occurs or does not occur 6. In a conditional contract, determining an uncertain event is not the only condition. 3. In a conditional contract, reciprocal commitments are not necessary.

4. Example. In the bet agreement agreed to pay B 20 rupees if it rains on Monday and if it does not rain B will pay 20 rupees to A. In the example above, there is reciprocal agreement of the agreement, but this reciprocity of promises is not necessary, in the case of a conditional contract. 2. A quota contract therefore involves a bet. In other words, a betting agreement is a contingency agreement (contract). 1. The conditional contract is a contract by which the contractor undertakes to execute the contract in the event of an uncertain security event.5 In a bet, the future event is the only deciding factor. 4. The parties have a real interest in having an uncertain future event occur or not.