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Which of the following are the essential characteristics of a wager? i. Mutual chance of gain or loss…

All three are characteristics of a wager. It involves reciprocal chances of gain and loss dependent on an uncertain event over which neither party has control.

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Which of the following are the essential characteristics of a wager?
i. Mutual chance of gain or loss i.e., one party winning and the other losing
ii. Neither party has control over the event
iii. Uncertain event, which is generally a future event

Select one answer
Answer and explanation

Correct answer D

All three are characteristics of a wager. It involves reciprocal chances of gain and loss dependent on an uncertain event over which neither party has control.

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