CAF-4 · Chapter 6 · Question 9 of 15
What is the primary difference between a 'contingent contract' and a 'wagering agreement'?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) In a wager, parties have no interest in the event except the money; in a contingent contract, they often do.
Explanation
A wagering agreement is purely a bet on an outcome, whereas a contingent contract is a contract to do something if an event happens (like insurance).
More Void agreements MCQs
- Q11Azam agrees with Babar to discover treasure by 'magic'. The agreement is:
- Q12If a contract contains a clause that NO party can EVER sue in a court, that clause is:
- Q13A contract for the sale of a house is made. Unknown to both, the house was destroyed by fire an hour before the contract. This contract is:
- Q14An agreement which is enforceable by law at the option of one or more of the parties, but not at the option of the other, is a:
- Q15A contract which ceases to be enforceable by law becomes void when it: