Famous bar bets [ edit ]
Enforceability [ edit ]
In a jurisdiction, bar bets may or may not legally binding. Especially 💱 if gambling is illegal in the winning party's jurisdiction, it may difficult to have a court enforce the bet. [8] 💱 A written contract, drawn up soberly the next day and signed by both parties, can avoid doubt.
For example, if one 💱 or both parties are intoxicated when the bet is made, they may be found to lack capacity to agree to 💱 a contract, and the contract thus found void or voidable.[9]
However, the fact that the agreement is oral but not written 💱 does not undermine it: oral contracts are valid,[10] though certain contracts must be written, under the statute of frauds, such 💱 as for the transfer of land.[11]
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