Cass (Trustee in Bankruptcy) v. Karpnale? (Allan Axelrod, 15 Dec 2000)

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Sender:	Allan Axelrod
Date:	Fri, 15 Dec 2000 13:48:25 -0500
Re:	Cass (Trustee in Bankruptcy) v. Karpnale?

applying a definition of a gift as a voluntary transfer without receiving property or rights in exchange, Matthew notes that no rights are received by the bettor if a win cannot be enforced against the casino [the US case I gave was out of Nevada where gambling debts are enforceable]

that a reasonable expectation-in-fact of collecting from a gambling loser is as good as a legal right for some purposes has been established in US law: before Nevada gambling debts became enforceable, it was held that a casino received income for tax purposes when it received the debtor's promise to pay: the court noted that the collection rate on these 'unenforceable' promises was well over 90%

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