- 1 Marks
BCL – L1 – SA – Q56 – Contract Law
Question
An agreement to pay money money’s worth on the occurrence or non-occurrence of a specified uncertain event is a
A Wagering agreement
B Contingent contract
C Quasi contract
D Uncertain agreement
Answer
A
Explanation:
The correct answer is A because an agreement to pay based on the occurrence or non-occurrence of an uncertain event, where both parties have a chance to win or lose, is a wagering agreement. Contingent contracts (B) depend on an event but are not necessarily speculative, quasi contracts (C) arise from implied obligations, and D is not a recognized legal term.
- Tags: Contingent Contract, Contract Law, Wagering Agreement
- Level: Level 1
- Topic: Contract Law
- Uploader: Samuel Duah