Wagering contract

Wagering contract
wager wa"ger (w[=a]"j[~e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge. [1913 Webster]

Besides these plates for horse races, the wagers may be as the persons please. --Sir W. Temple. [1913 Webster]

If any atheist can stake his soul for a wager against such an inexhaustible disproportion, let him never hereafter accuse others of credulity. --Bentley. [1913 Webster]

2. (Law) A contract by which two parties or more agree that a certain sum of money, or other thing, shall be paid or delivered to one of them, on the happening or not happening of an uncertain event. --Bouvier. [1913 Webster]

Note: At common law a wager is considered as a legal contract which the courts must enforce unless it be on a subject contrary to public policy, or immoral, or tending to the detriment of the public, or affecting the interest, feelings, or character of a third person. In many of the United States an action can not be sustained upon any wager or bet. --Chitty. --Bouvier. [1913 Webster]

3. That on which bets are laid; the subject of a bet. [1913 Webster]

{Wager of battel}, or {Wager of battle} (O. Eng. Law), the giving of gage, or pledge, for trying a cause by single combat, formerly allowed in military, criminal, and civil causes. In writs of right, where the trial was by champions, the tenant produced his champion, who, by throwing down his glove as a gage, thus waged, or stipulated, battle with the champion of the demandant, who, by taking up the glove, accepted the challenge. The wager of battel, which has been long in disuse, was abolished in England in 1819, by a statute passed in consequence of a defendant's having waged his battle in a case which arose about that period. See {Battel}.

{Wager of law} (Law), the giving of gage, or sureties, by a defendant in an action of debt, that at a certain day assigned he would take a law, or oath, in open court, that he did not owe the debt, and at the same time bring with him eleven neighbors (called compurgators), who should avow upon their oaths that they believed in their consciences that he spoke the truth.

{Wager policy}. (Insurance Law) See under {Policy}.

{Wagering contract} or {gambling contract}. A contract which is of the nature of wager. Contracts of this nature include various common forms of valid commercial contracts, as contracts of insurance, contracts dealing in futures, options, etc. Other wagering contracts and bets are now generally made illegal by statute against betting and gambling, and wagering has in many cases been made a criminal offence. [Webster 1913 Suppl.] [1913 Webster]

The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • wagering contract — An insurance policy not supported by an insurable interest on the part of the insured. 29 Am J Rev ed Ins §§ 432 et seq. An ordinary gambling contract. See gambling contract …   Ballentine's law dictionary

  • wagering contract — noun : a contract by which a promisor agrees that upon the occurrence of an uncertain event or condition he will render a performance for which there is no agreed consideration exchanged, and under which the promisee or the beneficiary of the… …   Useful english dictionary

  • wagering contract — See gaming contract …   Big dictionary of business and management

  • wagering contract — /ˌweɪdʒərɪŋ ˈkɒntrækt/ (say .wayjuhring kontrakt) noun a contract in which mutual promises are made between two persons, that one will pay the other a certain sum of money if a certain event is ascertained to have happened. Also, wager …   Australian English dictionary

  • wagering contract — One in which the parties stipulate that they shall gain or lose, upon the happening of an uncertain event, in which they have no interest except that arising from the possibility of such gain or loss. See also wager …   Black's law dictionary

  • gambling contract — wager wa ger (w[=a] j[ e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge.… …   The Collaborative International Dictionary of English

  • gaming contract — A contract involving the playing of a game of chance by any number of people for money. A wagering contract involves only two people. In general, both gaming contracts and wagering contracts are solid and no action can be brought to recover money …   Big dictionary of business and management

  • aleatory contract — /æliˌeɪtəri ˈkɒntrækt/ (say alee.aytuhree kontrakt) noun a contract or agreement of which the effects with respect both to the advantages and the losses depend on uncertain events; a wagering contract …   Australian English dictionary

  • illegal contract — a contract may be described as illegal if: (1) the aim or object of the contract is criminal or immoral; (2) some specific rule of statute or common law says that it is; (3) the method of contracting is illegal. At common law, contracts to commit …   Law dictionary

  • Carlill v. Carbolic Smoke Ball Company — Infobox Court Case name = Carlill v. Carbolic Smoke Ball Company court = Court of Appeal (Civil Division) date filed = date decided = 7 December 1892 full name = Carlill v. Carbolic Smoke Ball Company citations = [1893] 1 QB 256 judges = Lindley… …   Wikipedia

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