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A âwagerâ can be described as, follows: âThe agreement of gaming and wageringâ is that one party is to win and the other e upon a future every which at the time C the contract is of an a in nature - that is to say, if the event turns out one way A will lose; I it turns out the other way he will win.â.
4. (Banking & Finance) Also called: swap option or swaption finance a contract in which the parties to it exchange liabilities on outstanding debts, often exchanging fixed interest-rate for floating-rate debts (debt swap), either as a means of managing debt or in trading (swap trading).n exchange of one thing for another. 2. A contract in which two parties agree to exchange periodic interest payments, especially when one payment is at a fixed rate and the other varies according to the performance of a reference rate, such as the prime rate.