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Principle: If any person enters into wagering or betting agreements, such agreements would be illegal and cannot be given effect for enforcing obligations.
Fact: Akbar enters into an agreement with Birbal that if he pays Akbar a premium of Rs. 500 per annum and Birbal's house is devastated by fire within one year of entering into the agreement, Akbar shall make good the loss suffered by Birbal.

Principle: If any person enters into wagering or betting agreements, such agreements would be illegal and cannot be given effect for enforcing obligations.
Fact: Akbar enters into an agreement with Birbal that if he pays Akbar a premium of Rs. 500 per annum and Birbal's house is devastated by fire within one year of entering into the agreement, Akbar shall make good the loss suffered by Birbal. Correct Answer Agreement is a wager and even if Birbal's house is destroyed, he cannot claim price from Akbar

Related Questions

Assertion (A): All illegal agreements are void, but all void agreements are not illegal.
Reason (R): Only those agreements, of which the object or consideration is unlawful, are known as illegal agreements. Select the correct answer using the given below-
Consider the argument and decide which of the given assumption is/are implicit. Argument: Akbar said to his queen, “Birbal is the wisest man in my kingdom.” Assumption: 1. Akbar is not as wise as Birbal. 2. Akbar wants Birbal to become the next king.
Consider the argument and decide which of the given assumptions is/are implicit. Argument : Akbar said to his queen, "Birbal is the wisest man in my kingdom." Assumptions : 1. Akbar is not as wise as Birbal. 2. Akbar wants Birbal to become the next King.
Nirav's house is 40 m south of Akash's house. Daksh's house is to the east of Akash's house in a straight line at a distance of X m. Prakash's house if to the west of Akash's house in a straight line at a distance of Y m. If the shortest distance between Prakash's house and Nirav's house is 50 m and the shortest distance between Daksh's house and Nirav's house is also 50 m, then what is the distance between Prakash's house and Daksh's house? 
Akbar, Birbal, Chanakya are partners in a business. During a particular year, Akbar received one third of the profit, Birbal received one fourth of the profit and Chanakya received the remaining Rs. 5000. How much amount of money did Akbar receive?
The following table shows the income (in rupees) for a particular month, together with their source, in respect of 5 employees (A, B, C, D and E).   A B C D E Salary 52,000 48,500 42,000 31,000 25,000 Overtime 0 0 1,500 2,500 3,200 Arrears 5.500 4,500 4,000 3,000 1,500 Bonus 3,500 3,000 2,500 2,000 2,000 Miscellaneous income 5,000 3,000 1,500 1,500 0 Total 66,000 59,000 40,000 40,000 31,700   For employee D, the income from overtime is what percentage of his total income?
Consider the following with reference to Article 18? (a) No title, not being a military or academic distinction, shall be conferred by the State. (b) The citizen of India shall accept any title from any foreign State. (c) No person who is not a citizen of India shall, while he holds any office of profit or trust under the State, accept without the consent of the President any title from any foreign State. (d) The person holding any office of profit or trust under the State shall, without the consent of the President, accept any present, emolument, or office of any kind from or under any foreign State.
Which of the following statements are true/ false?
1. Every employer shall be bound to pay to every employee in respect of the accounting year commencing on any day in the year 1979 and in respect of every subsequent accounting year, a minimum bonus which shall be 9.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, whichever is higher, whether or not the employer has any allocable surplus in the accounting year.
2. Bonus will be paid in cash to the employees.
3. If the allocable surplus exceeds the amount of minimum bonus payable to the employees, the employer is bound to pay to every employee in respect of that accounting year bonus which shall be an amount in proportion to the salary or wages earned by the employee during the accounting year subject to a maximum of 10% of such salary or wage.
4. Bonus needs to be paid within a period of eight months from the close of the accounting year.
In a gated community, all the houses are facing East. The houses are numbered 1, 2, 3, 4, 5, 6, 7 and not arranged in the same serial fashion. a) House 3 is just to the right of house 4. b) House 2 is on one of the extreme ends and house 5 is its neighbor. c) House 7 is in between house 5 and 6. d) House 4 is third from the south end. Which house is located to the extreme end other than house 2 in the gated community?
In a gated community, all the houses are facing East. The houses are numbered 1, 2, 3, 4, 5, 6, 7 and not arranged in the same serial fashion. a) House 3 is just to the right of house 4. b) House 2 is on one of the extreme ends and house 5 is its neighbor. c) House 7 is in between house 5 and 6. d) House 4 is third from the south end. Which house is located to the right of house 5?