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Can you summarize NHRS Chapter 338?
TRADE AND COMMERCE (Chapters 333 - 359-U) > GAMBLING CONTRACTS
Short Summary
The provided legal document content pertains to gambling contracts. According to the document, no title or interest in money or any other thing can be acquired, lost, or changed through gambling. Any note or security for a supposed debt arising from a gambling transaction or for money lent for gambling purposes or to pay gambling debts is deemed invalid. Such debts are not considered a legal consideration for any contract or transaction, and any person can take advantage of this illegality, even if they are a party to the transaction. Additionally, all bets and wagers where the parties have no interest in the subject except for the wager itself are void, and either party can recover any property deposited, paid, or delivered upon such wager or its loss. Furthermore, if a person receives money or property won through gambling, they are liable to the person who lost it and can be sued to recover it. Any security given for the payment of such losses is also void. The document also states that any contract or agreement for the purchase, sale, loan, payment, or use of money or property, which depends on or is affected by an uncertain event in which the parties have no interest except for the contract itself, is considered a bet or wager. However, the chapter does not apply to fantasy sports contests, which are defined as fantasy or simulated games or contests where players compete against each other based on accumulated statistical results of individual performances. The relative knowledge and skill of the players predominantly determine the winning outcomes in fantasy sports contests. No specific penalties are mentioned in the provided legal document content.
Whom does it apply to?
All parties involved in gambling transactions
What does it govern?
Gambling contracts
What are exemptions?
Fantasy sports contests are exempted from this chapter
What are the Penalties?
No specific penalties mentioned
Jurisdiction
New Hampshire