Binding in Honour

What does "binding in honour" mean? When I renew my pools this is what they say.
13:06 Thu 13th Aug 2009
 
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"This agreement is binding in honour only" is there to say that they'll be honourable in their dealings, will be fair in paying winnings and so on, but there is no contract created whereby they can be sued if they e.g make a mistake. There was case in 1938, Jones v Vernons Pools Ltd, when Mr Jones sued because he said that Vernons had wrongly failed to pay him winnings and/or had lost his winning coupon. He failed because the court held that there was no contractual obligation on Vernons, the agreement being binding in honour only.
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Thanks for that. But doesn't that mean that if they don't feel like paying they wont? Why don't non-pools firms do it?
My guess is that non-pools firms are not interested in trying to create an arrangement which is not contractual. That's because bookmakers may deal in very substantial stakes and may extend large amounts of credit to clients.The Gaming Act 2005 s334 changed the law. Before then a 'gambling debt' was not enforceable in the courts.The Act made a contract which was connected with gambling enforceable. I think William Hill and others, owed big sums, like to be able to sue the client ! Pools companies deal in small sums in bets, don't give credit much, if at all, and so won't worry about bad debts,.

Yes, Pools companies could decide not to pay you (just as Vernons refused Mr Jones) but it wouldn't be good for business if they did it often! So far as I'm aware their wording is still valid to make an 'honour only' arrangement.Your pools company seem to think so, as it still uses the wording. .



But doesn't that mean that if they don't feel like paying they wont?

If you put it like that yes. But how often in reality do they not 'feel' like paying out?

Virtually never I'd guess.

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