Week 4 Assignment: This Is The Final Application For Legal P
Week 4 Assignmentapplicationis This Purpose Legalthe Final Requireme
Consider the following situation: You and Tommy made a $100 bet on the outcome of the Super Bowl. After your team won, Tommy refused to pay you the $100. Based on the information that you have learned in your reading, write a 150-word paper that answers the following questions about the situation described above: Could you legally sue Tommy? Why or why not? Be sure to support your conclusion with facts, definitions, and/or examples. If you have not already done so, clearly explain what constitutes legal and illegal gambling. Use APA formatting and quotes from the text/resources. Please see example of APA formatting below:
APA Textbook In-text Citations Reading Course Text: Goldman, A., & Sigismond, W. (2014). Business Law: Principles and Practices (9th ed.). South-Western: Cengage Learning. Chapter 10, "Legality." In this chapter, you will examine the last requirement of a valid contract: Legality. You will explore the nature of illegal agreements and the exceptions to the rule that courts will not enforce illegal agreements. Finally, you will be introduced to the agreements that are generally recognized as being illegal in most states.
Focus on the definitions and concepts provided throughout the chapter. Review and think about the examples and short cases in the chapter that demonstrate the major ideas being conveyed. Chapter 11, "Memorialize Contracts in Writing–Statute of Frauds." Don't all contracts need to be put in writing? The answer, actually, is "No." In fact, the law requires that only a few specific types of contracts must be written in order to be enforceable in court. In this chapter, you will explore the categories of contracts required to be in writing, the validity of oral contracts, and the advantages of creating a written contract. Finally, you will be introduced to the parol evidence rule. Focus on the definitions and concepts provided throughout the chapter. Review and think about the examples and short cases in the chapter that demonstrate the major ideas being conveyed, and consider the prevalence of oral contracts and the advantages of written contracts.
Paper For Above instruction
The legality of betting on the Super Bowl, as in the scenario with you and Tommy, hinges on the definition of legal versus illegal gambling. In most jurisdictions, gambling becomes illegal when it involves wagering on an event based on chance where the outcome is uncertain, and the wager is made for money or other valuable consideration. According to Goldman and Sigismond (2014), "Gambling becomes illegal when it violates statutory laws that prohibit betting, especially when it involves unregulated, informal, or private bets" (p. 245). Since the bet between you and Tommy was informal, cash-based, and based solely on chance, it falls into a legal gray area unless specific state statutes declare such activities illegal. In jurisdictions where such informal betting is illegal, courts generally refuse to enforce agreements arising from illegal activities, and thus, you may not be able to sue Tommy successfully for the unpaid wager.
Understanding the distinction between legal and illegal gambling is essential. Legal gambling typically occurs through licensed casinos, lotteries, or sports betting regulated by state laws, which include compliance with specific rules designed to protect participants. Conversely, illegal gambling activities occur outside these regulations, often involving unlicensed entities or informal arrangements like private bets among friends. Courts usually uphold contracts related to legal gambling, but refuse to enforce illegal gambling agreements, reinforcing the principle that contracts must have a legal purpose to be valid (Goldman & Sigismond, 2014).
In the given case, since the bet was informal and based on chance, and assuming gambling is illegal in your jurisdiction without proper licensing, the contract's purpose would be considered illegal, thereby invalidating any legal claim you might have against Tommy. Therefore, unless local laws explicitly permit such bets or the activity falls under legal gambling exemptions, you would likely be barred from suing Tommy for the wager. Overall, engaging in regulated, licensed gambling activities ensures enforceability and legal protections, whereas informal or unregulated betting risks being deemed illegal and unenforceable in court.
References
- Goldman, A., & Sigismond, W. (2014). Business Law: Principles and Practices (9th ed.). South-Western: Cengage Learning.