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Question
Collateral transaction of a wagering agreement have not been declared illegal except in the State of ______.
Collateral transaction of a wagering agreement have not been declared illegal except in the State of ______.
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Solution
The correct option is A Maharashtra
Under section 30 of the Indian Contract Act wagering contracts have been explicitly declared as a void ab initio but there is nowhere mentioned that these type of contracts have been forbidden by the law. In India, however, the law differs from state to state and in the states of Gujarat and Maharashtra, the wagering agreements have been declared illegal and is forbidden by law.
Under section 30 of the Indian Contract Act wagering contracts have been explicitly declared as a void ab initio but there is nowhere mentioned that these type of contracts have been forbidden by the law. In India, however, the law differs from state to state and in the states of Gujarat and Maharashtra, the wagering agreements have been declared illegal and is forbidden by law.
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