§ 5-413 — Securities for money lost at gaming, void

New York § 5-413

• Jurisdiction: New York
• Law GOB: General Obligations
• Title 4: Contracts Relating to Wagering; Forfeiture and Recovery of Certain Property
• Art. 5: Creation, Definition and Enforcement of Contractual Obligations

Text

§ 5-413. Securities for money lost at gaming, void. All things in\naction, judgments, mortgages, conveyances, and every other security\nwhatsoever, given or executed, by any person, where the whole or any\npart of the consideration of the same shall be for any money or other\nvaluable thing won by playing at any game whatsoever, or won by betting\non the hands or sides of such as do play at any game, or where the same\nshall be made for the repaying any money knowingly lent or advanced for\nthe purpose of such gaming or betting aforesaid, or lent or advanced at\nthe time and place of such play, to any person so gaming or betting\naforesaid, or to any person who during such play, shall play or bet,\nshall be utterly void, except where such securities, conveyances or\nmortgages shall affect any real estate, when the same shall be void as\nto the grantee therein, so far only as hereinafter declared.\n When any securities, mortgages or other conveyances, executed for the\nwhole or part of any consideration specified in the preceding paragraph\nshall affect any real estate, they shall inure for the sole benefit of\nsuch person as would be entitled to the said real estate, if the grantor\nor person incumbering the same, had died, immediately upon the execution\nof such instrument, and shall be deemed to be taken and held to and for\nthe use of the person who would be so entitled. All grants, covenants\nand conveyances, for preventing such real estate from coming to, or\ndevolving upon, the person hereby intended to enjoy the same as\naforesaid, or in any way incumbering or charging the same, so as to\nprevent such person from enjoying the same fully and entirely, shall be\ndeemed fraudulent and void.\n