§ 8-1-130 — Persons Involved in Futures Contracts Not Excused from Testifying; Participation Prima Facie Evidence of Guilt

Alabama § 8-1-130

• Jurisdiction: Alabama
• Title 8: Commercial Law and Consumer Protection
• Ch. 1: Contracts
• Art. 7: Future Delivery

Text

(a) No person shall be excused on any prosecution under this article from testifying touching anything done by himself or others contrary to the provisions of this article; but no disclosures made by the witness upon such examination shall be used against him in any penal or criminal prosecution, and he shall be altogether pardoned of the offense so done or participated in by him.
(b) In all such prosecutions proof that the defendant was a party to a contract as agent or principal to sell and deliver any article, thing or property specified or named in this article, that he was agent, directly or indirectly, of any party in making, furthering, or effectuating the same, or that he was the agent or officer of any corporation or association or person in making, furthering, or effectuating the same and that the article, thing, or property agreed to be sold and delivered was not actually delivered and that settlement was made or agreed to be made upon the difference in value of such article, thing, or property shall constitute against such defendant prima facie evidence of guilt.

Legislative History

(Code 1907, §6476; Code 1923, §3580; Code 1940, T. 9, §39.)