The 'Lectric Law Library's Lexicon On
* Unlawful Debt *

UNLAWFUL DEBT - A debt incurred or contracted in gambling activity which was in violation of the law of the U.S., a State or political subdivision thereof, or which is unenforceable under State or Federal law in whole or in part as to principal or interest because of the laws relating to usury, and which was incurred in connection with the business of gambling in violation of the law of the U.S., a State or political subdivision thereof, or the business of lending money or a thing of value at a rate usurious under State or Federal law, where the usurious rate is at least twice the enforceable rate. 18 USC

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