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The exposition of a story is the part that pretty much explains what is going to be important in the story.  It introduces the characters and gives us some idea as to what sort of conflict there will be inthe story.

Here, the exposition is, in my opinion, all the stuff that happens up through the point where the bet is made.  In that part of the story, we are finding out who the banker and lawyer are and we are finding out what sort of issue is going to arise between them.

Once the bet is made, we get to start finding out who will win the bet and how.

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