Civil Code Art. 2018: Gambling

Statute: Civil Code
Article: Art. 2018
Topic: Gambling
Book: BOOK IV Obligations and Contracts
Title: TITLE XIII ALEATORY CONTRACTS
Chapter: CHAPTER 2 Gambling
Year: 1949

The provision

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)

Cases applying this article

National Transmission Corporation v. Leslie L. de Jesus G.R. No. 217928

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