Wagering Agreement

Definition Essential Effects Other Important Points

Element
1. Agreement Speculation in Shares &
Wagering is an Lottery Game of Skill
of betting 1. Normally void- Stock
agreement in
2. Mutual ab-intio
which money or
chance of 2. Illegal in Maha.
money’s worth Govt. Valid Price
gain or loss & Gujrat Luck
is payable by Authori Other Money up
3. No other 3. Collateral zed Involve
one person to  If giving & taking to Rs.1,000
interest agreement in
another person delivery, it is valid.
except of rest of India
on happening or  Only Playing with
winning or valid Valid Void
not happening difference of price, it
losing. 4. Void in Maha. Valid Void –
of future will be void-ab-intio
4. Future & Gujrat ab- intio
uncertain event.  Where there is for
Uncertain
Collateral game of skill then it is Price
valid up to Rs.1,000 money
only. more than
 Horse Race Rs.1,000

Void – ab-
Contribution up to Contribution more intio
Rs.500 than Rs.500

Void-ab-intio Valid