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A âwagerâ can be described as, follows: âThe agreement of gaming and wageringâ is that one party is to win and the other e upon a future every which at the time C the contract is of an a in nature - that is to say, if the event turns out one way A will lose; I it turns out the other way he will win.â.
Although wager is a contingent agreement, yet there are certain points of difference between the two: Contingent Contract. 1. A contingent contract has been defined as a contract to do or not to do something, if some event collateral to such contract does or does not happen. A contingent contract is wider in scope. 2. A contingent contract thus includes a wager. In other words a wagering agreement is a contingent agreement (contract).