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Lottery Pool Agreement Lottery Pool Agreement The

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Lottery Pool Agreement Lottery Pool Agreement The Powered By Docstoc
					                                  Lottery Pool Agreement

The following individuals agree to join a lottery pool for the month/week of
___________________, for the purpose of jointly playing the ______________________ State
Lottery:   ___________________________________________________________ and the
following games of the __________ State lottery: ____________________ and designate,
____________________________________ as the Lottery Pool Manager for this month/week.

___________________________________ shall be the Lottery Pool Co-Manager. Each
participant shall be liable to contribute $___________ per game played. Each party to the pool
shall turn over all funds for the purchase of tickets at least 24 hours prior to the closing time for
purchase of tickets for each game. In the event that a person does not do so, they shall
nevertheless be liable to pay in their share of the money used, if a ticket or ticket is purchased
for them.


In the event that any prizes are won, the pool manager, who shall serve without compensation,
shall evenly divide the prize among the predetermined participants, deducting any amount owed
for a failure to pay a required share. ANY AND ALL FUNDS WON AS PRIZES SHALL BE
CONSIDERED TO BE HELD IN TRUST FOR THE POOL BY THE MANAGER.



This agreement shall not automatically renew and shall expire at the end of the month or week
stated.

In the event of a prize being won in excess of $ _____________________________, and
settlement options are provided, the vote of the majority of the pool members shall decide. If
there is no majority, the pool manager shall decide.

Any member may withdraw by written notice to the pool manager, and the pool shall thereupon
end, but shall remain in effect for the past games played as a pool.

This is the entire agreement of the parties and there are no agreements express or implied not
stated herein. This agreement may only be altered in writing signed by all parties.



Dated: ______________________________.



Accepted and agreed: ____________________________________________________

______________________________________________________________________

Signed by All the Parties
                                 Lottery Pool Agreement
                                           Review List



This review list is provided to inform you about this document in question and assist you in its
preparation. This agreement is more well care. It is bad enough to lose with the lottery. But to
win the lottery and then lose your friends over haggling about who got what would be downright
silly. This agreement helps protect against that contingency for two reasons: first, you have the
agreement in writing; and secondly, everyone has a chance to determine what they “really”
mean in before they sign.


   1. Keep multiple copies. Keep the paperwork in order as long as you elect to invest in
      lottery tickets.
   2. The individual that actually buys the tickets should photocopy all of the tickets and
      provide each participant in the pool with a front and back copy of all of the tickets
      purchased by the Lottery Pool.
   3. Agree before the lottery numbers are drawn who will be the spokesperson, if anyone,
      and if the group will go public or remain private with the news if they should win.
   4. Have a team lined up that all team members agree on to represent the lottery pool which
      could include but not be limited to the following:
               Tax Accountant
               Long Term Financial Advisor
               Lawyer
               Spokesperson
               ** Note – Each individual member may wish to have their own team, but there
               should be at least one legal representative for the entire lottery pool to depend on
               to help them with the turning in the winning ticket.
   5. Agree before the lottery numbers are drawn who will hold the tickets and what will be
      done with the tickets until the ticket is turned in if one of the tickets should end up being
      the winning ticket.

				
DOCUMENT INFO
Description: Lottery Pool Agreement for All individuals participating in a lottery pool to use and sign prior to agreeing to participate in a lottery pool with co-workers, friends or family. Free to download, Distributed by Orange Beach FSBO, Inc. OrangeBeachFSBO.com