Section 8-1-122 Failure to furnish statement on future delivery prima facie evidence of illegal contract. - Alabama Statutes

Section 8-1-122

Failure to furnish statement on future delivery prima facie evidence of illegal contract.

Every person shall furnish, upon demand, to any principal for whom such person has executed any order for the actual purchase or sale of any commodities, stocks, or bonds for future delivery, a written statement containing the names of the persons from whom such property was bought or to whom it has been sold, as the fact may be, the time when and the place where, and if the person shall refuse or neglect to furnish such statement within 24 hours after such demand, such refusal or neglect shall be prima facie evidence that such purchase or sale was an illegal contract declared void by this article.

(Acts 1915, No. 791, p. 913; Code 1923, §6817; Code 1940, T. 9, §31.)