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Features Of Wagering Agreement

In this research paper, I briefly discussed the definition of betting agreements, their essential characteristics and their exceptions. I also discussed the comparison of betting agreements under Indian and English law. The main motto of writing this research paper is to make you all aware of the indeterminacy of Section 30 of the Indian Contract Act and how it can be removed, and to follow my logic, I have referred to different case laws to outsource my points. I have also discussed the various issues related to this issue and have made available some suggestive measures to deal with them. The essence of my research, therefore, is that Section 30 of the Indian Contract Act is not clear in itself and therefore needs to be amended to eliminate its indeterminacy. In the event of the cancellation of the contract which forms the basis of the appeal, the Tribunal has the power to reject the application despite the defendant`s confession. [30] Agreements between the parties provided that the first part is paid to the second part on the occurrence of an uncertain future event and the second part of the first part if the event does not occur, the betting agreements or bets are called. In a betting deal, there should be a mutual chance of winning and losing. As a general rule, betting contracts are not valid. The third most important feature of the betting contract is that the event may be uncertain, but should not be a future event. The parties can bet on the qualities or attributes of existing things, or the result of events that have already occurred, they do not know these things.

The purpose of the bet is then the accuracy of each person`s judgments and not the determination of the event. [20] In India, the betting agreements were expressly cancelled. It cannot therefore be applied in any court. Article 30 of the Act states that betting agreements, as long as betting contracts are non-legal, are not incompatible. That is why they are enforceable. For z.B. if a person lends money to another person to pay a gambling debt, the lender can recover the money thus paid.

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