Which of the following is the similarity between insurance and gambling:

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 Which of the following is the similarity between insurance and gambling:

 Options:

 

  • A. The amount of loss to be paid is known before hand.
  • B. Promise to pay on the happening of the event
  • C. Both the parties win on happening of an event.
  • D. Both are enforceable at law.

 

The Correct Answer Is:

  • A. The amount of loss to be paid is known before hand.

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