Page 15 - IC24 LEGAL ASPECTS OF LIFE ASSURANCE

Agreements by way of wager are void. Contract of wager is void,

but not a legal

Contingent contract is a contract to do or not to do something, if

some event, collateral to such contract, does or does not happen

Novatio: when parties to a contract agree to substitute a new

contract for it, or to rescind or alter it, the contract is discharged by

novatio.

A Performance of the promise is the usual way to discharge the

legal obligation under a contract.