Define wager free#

” All Agreements are contracts if they are made by the free consent of the parties, competent to contract for a lawful consideration and with a lawful object and are not hereby expressly declared to be void ”. The contract made between any two parties should be made in a proper manner and should have the following essentials in it to be called as a valid contract which has been defined under the section 10 of the Indian Contract Law,1872. A contract is a legal way of performing activities between two parties and making sure that neither of the party at any point of time while in the performance of the contract backs out or otherwise the other party can sue him in the court of law for the breach of Contract. Thus, it implies that an agreement which is enforceable by law is a contract. Under Section 2(h) of the Indian Contract Act, 1872 the term Contract has been specifically defined as an agreement which is enforceable by law. Contracts in the general sense are usually written but they can be spoken or implied on the mutual consent of both the parties and are generally related to lease, rent, sale or employment. WHAT IS A CONTRACT?Ī contract is a voluntary, deliberate, and a legally binding agreement between two or more parties. In this Article, Saksham Chhabra from UPES(Dehradun) discusses wagering contract and its enforceability.