Answer First
Primary Text
If a contract which purports to be for the
delivery of goods, securities or shares of stock is entered
into with the intention that the difference between the
price stipulated and the exchange or market price at the
time of the pretended delivery shall be paid by the loser
to the winner, the transaction is null and void. The loser
may recover what he has paid. (n)
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.
Plain Language