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Can you summarize 11 VACV Chapter 3?
Contracts > Gaming Contracts
Short Summary
The provided legal document content pertains to gaming contracts and related activities. According to the Code of Virginia, any wagers, conveyances, assurances, contracts, and securities where the consideration involves money or valuable things won, laid, or bet at any game, horse race, sport, or pastime are deemed void. Similarly, contracts to repay money knowingly lent for gaming purposes are also void. However, a contract governing the distribution of state lottery proceeds is considered valid and enforceable. Additionally, if a person loses five dollars or more within twenty-four hours by playing or betting on any game, they have the right to recover the lost money or goods from the winner within three months. It is important to note that this chapter does not apply to sports betting or related activities that are lawful under Article 2 of Chapter 40 of Title 58.1, or to any bet, wager, or casino gaming permitted by Chapter 41 of Title 58.1. The documents do not specify any penalties for non-compliance or violation of the provisions mentioned.
Whom does it apply to?
Persons involved in gaming activities, including winners and losers
What does it govern?
Contracts related to gaming, betting, wagering, and repayment of money lent for gaming purposes
What are exemptions?
Sports betting or related activities lawful under Article 2 of Chapter 40 of Title 58.1, bet, wager, or casino gaming permitted by Chapter 41 of Title 58.1
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Virginia