Wagering Agreement Meaning In Tamil

However, the Supreme Court ruled that such a partnership was not illegal, although the company for which the partnership was established was classified as a bet. Any insurance contract is a gamble if the insurer has no insurable interest in the event that the insurance money is payable. The interest of insurance generally lies in the fact that it is an event that is in the interest of the insurer. [xxiv] If he insures a cargo he has loaded onto a ship, his contract is not a gamble, since his property is threatened during the voyage; but if there is no cargo on board, the contract is a gamble; because if the ship is not lost, it loses the amount of the premium. Section 6 of the Marine Insurance Act 1963 provides that any contract of transport insurance is void as a bet; and that a transport insurance contract is considered a betting contract if the insured has no insurable interest. The Marine Insurance Act 1906 also provides that a marine contract or insurance is considered a gambling or betting contract if the insured has no interest in the adventure. A truck belonging to one of them was transferred to b. benami, who had him insured in his own name. The truck was involved in an accident and seriously injured a young army officer who claimed serious damages from the owner, driver and Benamidar and insurance company. .

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