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Wagering contract

   Also found in: Financial 0.02 sec.
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.

See also: wager



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Such consent is persuasive, "further vindicat[ing] the public policy designed to prevent wagering contracts on which the insurable interest rule is grounded" (Dou, Chem.
Employer has insurable interest in employees by O'Driscoll, David / The Tax Adviser
Network Plans Major Reallocation of Television Programming and Wagering Contributions LOS ANGELES -- TVG, America's Horseracing Network, announced today that it has discontinued negotiations on extending its television and advance deposit wagering contract with Churchill Downs Incorporated ("CDI").
TVG Halts Negotiations with Churchill Downs by Business Wire
The Sixth Circuit, however, dismissed the notion of a wagering contract by determining that there was a valid life insurance contract under state law.
Taxation of corporate-owned life insurance policy proceeds payable to ... by Headley, Richard A. / The Tax Adviser
 
 
 
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