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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.
Prevailing wage. In government contracting, a prevailing wage is defined as the hourly wage, usual benefits and overtime, paid to the majority of workers, laborers, and mechanics within a particular area.he goal is that, with everyone playing on a level field, contractors seek to maximize their workers' output and their own ability to manage work better than their competition. In practice, a construction project will have most of the same workers on the job whether it is a prevailing wage job or not.