QUESTION

My question is about 720 ILCS 5/28-1) (from Ch. 38, par. 28-1)? What does this mean quoted from the statute in this selected paragraph?

Asked on Jan 20th, 2014 on Criminal Law - Illinois
More details to this question:
And more specifically what does this mean for one who wants to trade futures in an exchange, selecting a price to buy, or sell at, in the future, in Illinois? I know that these kind of stocks can be written down as spread bets in the U.K. "(720 ILCS 5/28-1) (from Ch. 38, par. 28-1) Sec. 28-1. Gambling." "(4) contracts to have or give himself or herself or another the option to buy or sell, or contracts to buy or sell, at a future time, any grain or other commodity whatsoever, or any stock or security of any company, where it is at the time of making such contract intended by both parties thereto that the contract to buy or sell, or the option, whenever exercised, or the contract resulting therefrom, shall be settled, not by the receipt or delivery of such property, but by the payment only of differences in prices thereof;" And it goes on although theres not enough room here. Here is the full document. http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=072000
Report Abuse

1 ANSWER

Criminal Law Attorney serving Naperville, IL at Law Office of Ken Wang
Update Your Profile
The interpretation of a statute is not a proper question for the "ask a lawyer" service.   Any attorney answering this question would be subjecting themselves to a potential malpractice claim.  My suggestion is for you to retain counsel to give you fact-specific legal advice.  
Answered on Jan 27th, 2014 at 3:51 PM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters