Arkansas Statutes
§ 23-44-103 — Requirements for validity of contracts
Arkansas·Title 23
(a)All contracts of sale for future delivery of cotton, grain, stocks, or other commodities shall be valid and enforceable in the courts of this state, according to their terms, if they are:
(1)Made in accordance with the rules of any board of trade, exchange, or similar institution where the contracts of sale are executed;
(2)Actually executed on the floor of the board of trade, exchange, or similar institution and performed or discharged according to the rules thereof; and (3) Made with or through a regular member in good standing of a cotton exchange, grain exchange, or similar institution organized under the laws of the State of Arkansas or any other state.
(b)However, contracts of sale for future delivery of cotton, in order to be valid and enforceable, must not only conform to th
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Legislative History
Acts 1929, No. 208, § 2; Pope's Dig., § 3343; A.S.A. 1947, § 68-1002.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
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