AGREEMENT BY WAY OF WAGER

1. An agreement of wager is:-
   a) Void
   b) Valid
   c) Voidable
   d) Effective
2. Which section of the Indian Contract Act 1872 makes the wager agreement void?
   a) Section 29
   b) Section 26
   c) Section 30
   d) Section 28
3. Which of the following is not an essential element of a wagering agreement:-
   a) The subject matter of the agreement must be dependent on an uncertain event.
   b) Neither of the parties must have control over the event.
   c) The agreement must be in writing.
   d) There is a mutual chance of gain or loss.
4. Which one of the following is not an exception to the wagering agreement?
   a) Lottery
   b) Insurance contracts
   c) Horse race
   d) All of the above
5. “Skill competitions are not said to be wagers”. Which of the following is an exception to this general rule?
   a) Crossword puzzle
   b) Sports competition
   c) Lottery
   d) None of the above

Answer 1. (a) 2. (c) 3. (c) 4. (a) 5. (c)