New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following is an exception to the concept

    that agreements by way of wager are void?
    A Keeping lottery office Correct Answer Incorrect Answer
    B Any sum of money to be awarded for any horse-race Correct Answer Incorrect Answer
    C Sum of money, of the value or amount of five hundred rupees or upwards, to be awarded to the winner of any horse-race Correct Answer Incorrect Answer
    D All a, b & c Correct Answer Incorrect Answer

    Solution

    Section 30. Agreements by way of wager, void: Agreements by way of wager are void; and no suit shall be brought for recovering anything alleged to be won on any wager, or entrusted to any person to abide the result of any game or other uncertain event on which any wager is made. Exception in favour of certain prizes for horse-racing—This section shall not be deemed to render unlawful a subscription or contribution, or agreement to subscribe or contribute, made or entered into for or toward any plate, prize or sum of money, of the value or amount of five hundred rupees or upwards, to be awarded to the winner or winners of any horse-race. Section 294A of the Indian Penal Code not affected—Nothing in this section shall be deemed to legalize any transaction connected with horse-racing, to which the provisions of section 294A of the Indian Penal Code apply.

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