Section 7-8-113 Statute of frauds inapplicable. - Alabama Statutes

Section 7-8-113

Statute of frauds inapplicable.

A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.

(Acts 1996, No. 96-742, p. 1241, §1.)