Terms and Conditions Law and Legal Definition

According to 15 USCS § 3002 (22), [Title 15. Commerce and Trade; Chapter 57. Interstate Horseracing] the term terms and conditions includes, “but is not limited to, the percentage which is paid by the off-track betting system to the host racing association, the percentage which is paid by the host racing association to the horsemen's group, as well as any arrangements as to the exclusivity between the host racing association and the off-track betting system.”