USCA4 Appeal: 25-1892
Doc: 16
Filed: 10/15/2025
Pg: 84 of 97
delivering the property so sold, or in which is conducted or permitted the pretended buying or selling of such property on margins, or when the party buying, or offering to buy, such property, does not intend actually to receive the same if purchased, or d eliver it if sold.” N. H. Pub. L., ch. 384, § 23 (1925). N ORTH C AROLINA x “The test of the validity of a contract for ‘future’ which this section requires is the ‘intention not to actually deliver’ the articles bought or sold for future delivery. No matter how explicit the words in any contract which may require a delivery, if in fact there is no intention to deliver, but the real understanding is that on the stipulated date the losing party shall pay to the other the difference between the market price and the contract price, this is a gambling contract .” Ed.’s Note, N.C. Code Ann. § 2144 (1931). N ORTH D AKOTA x Bucket shops, considered a “place for gaming ,” are “unlawful” where they are used for “the pretended buying or selling of grain, pork, lard or any mercantile or agricultural products on margins, without any intention of future delivery.” N. D. Comp. L. Ann. § 9699 (1913). O HIO x It is unlawful for a person to use a building for a “‘bucket shop’ or grain gambling .” Ohio Gen. Code § 6934a -5 (1902). P ENNSYLVANIA x “All contracts, agreements, trades, or transactions of the nature described in section one of this act [on bucket shops] are hereby declared gambling , and criminal acts, and absolutely null and void.” Dig. Pa. Stat. L. § 2418 (1920) (citing Act of June 1, 1907). S OUTH D AKOTA x Bucket shops, as a form of “ [g]ambling in [f]utures ,” are unlawful where they are used for “the pretended buying or selling of grain, pork, lard or any mercantile, mining or agricultural products or corporation
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