M lost a sum of 78,500 to L & Co. on bets on horse races, and on his failure to pay was reported to race course club. M subsequently executed in favour of L& Co. a Hundi for 28,500 in consideration of

Question

Rakesh · Answer

Bro it's an Indian contract act 1872 question

Nikk · Answer

No , mr M is not liable for a single penny because law only allow 500₹ for betting but here amount is much big so as per companies act 2013 section as may be proscribed

Rakesh · Answer

Does Mr M have to repay the money to the horse course club? Ryt?

Rahul · Answer

??

Rahul · Answer

Kya

Rakesh · Answer

Pay*

Rakesh · Answer

Is Mr m has paid 8500?

Rahul · Answer

This transaction is similar to wager and the transaction is void

M lost a sum of 78,500 to L & Co. on bets on horse races, and on his failure to pay was reported to race course club. M subsequently executed in favour of L& Co. a Hundi for 28,500 in consideration of

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