$250,000 Business Loan to Poker-Playing Lawyer Can Be Called, Court Says
Counsel Financial Services, which loans money to law firms, was within its rights when it decided not to gamble on an attorney who used money he borrowed to play poker, a federal judge has ruled. Michael J. Melkersen had argued that his card-playing was not proscribed by documents he signed for obtaining the money. “His view was that playing poker was business,” Counsel Financial’s general …
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Poker dictionary:
- DOOR [CARD] - A player's first upcard in stud games.
- LIVE [CARD] - In Stud, a card probably not held by other players.
- STRAIGHT - A hand consisting of 5 cards in sequence but not in suit.
- POT - The total amount of money bet so far in a hand.
- MIDDLE POSITION - Betting positions approximately halfway around the table from the first player to act.
- BURN - To discard the top card of the deck prior to dealing, usually done for every dealing round except the first. The theory being that if somehow the cards are marked (illegally) no one will know what card will next be dealt, only what card will be burned. This makes marked cards less of an advantage, hence tends to reduce cheating.
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