Legal Question in Business Law in Missouri
business sale by lottery/essay
I have heard of people before selling a house by having others send an essay, and say $100, as a fee. The entry money is collected to make a selling price, with the winning essay writer basically buying the house for $100. I wish to do this to sell my existing business, since all offers are far below my perceived value. All entries will be judged anonymously by independent judges, and if too few are received, all money will be returned to the entrants. I need to be assured that this is a legal act.
Asked on 4/06/07, 1:05 pm
1 Answer from Attorneys
Anthony DeWitt
Bartimus, Frickleton Robertson & Gorny, PC
Re: business sale by lottery/essay
This is likely an unlawful lottery. If I were you, I would consult an attorney and get a legal opinion before going forward.
Answered on 4/06/07, 1:31 pm
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