Delbert won a $500 bet with Samuel on the outcome of the World Series, but Samuel refuses to pay. Discuss what recourse Delbert has. If Delbert had instead bought a ticket from a state-operated lottery, would his recourse be different?
Delbert's bet with Samuel is an illegal wager, which courts generally refuse to enforce. A wager occurs when the parties stipulate that one wins and the other loses depending on the outcome of an event in which their only interest is the possibility of such gain or loss. If the wager had instead been on a state-operated lottery ticket, the wager would be legal and would be enforceable in the courts.
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Indicate whether this statement is true or false.
The theory suggesting that for any given issuer, long-term interest rates tends to be higher than short-term rates is called ________
A) expectation hypothesis B) liquidity preference theory C) market segmentation theory D) interest parity theory