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Daily Archives: Friday, December 27, 2019

Posted: December 27, 2019

That Loan Was Made from the Proceeds of Illegal Gambling Does Not Make Loan Contract Unenforceable

On December 19, 2019, the Court of Appeals issued a decision in Centi v. McGillin, 2019 NY Slip Op. 09058, holding that a loan contract was enforceable even though the loan was made from the proceeds of illegal gambling, explaining: Given our strong public policy favoring freedom of contract, agreements are generally enforceable by their... Read more »