In many states, it is illegal to lend money to help someone gamble: (A) TRUE
What is gambling?
- Gambling is the wagering or staking of something of value on the outcome of a game, a contest, or an uncertain event, the conclusion of which may be determined by chance or accident or have an unexpected consequence due to the bettor's miscalculation.
- It is prohibited in many states to lend money to someone who is gambling.
- If a contract is established with a person required by law to hold a license, and the aim of the license is to safeguard the public, an unlicensed person's contract is generally unenforceable.
Therefore, the statement "in many states, it is illegal to lend money to help someone gamble" is (A) TRUE.
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