In the case, the judge stated that the essence of gambling and betting is that the party wins and the other must lose in a future event which are of an uncertain nature at the time of the contract However, he also pointed out that there were certain transactions where the parties could lose and win depending on the occurrence of an event that did not fall within the scope of the expression, such transactions are, of course, quite common, including the majority of purchases and forward sales.
Dictionary, Merriam-Webster, Retrieved 27 November 2020. In order to curb betting in the context of justice, the following conditions must be respected: “Betting contract”. However, if the intention is only to compensate for the price difference, the transaction is a bet and therefore void. Transactions of buying and selling shares and shares with the intention of accepting and delivering shares are not a gamble.
The common law of England and India have never defeated the betting treaty for reasons of public policy In fact, they have always been deemed non-illegal, despite the fact that the law annulled them. The parties to a betting contract focus mainly on the profit or loss they make. The essence of a betting contract is that neither party should have any other interest in the contract than the amount they will win or lose.
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