Alabama § 8-1-121 - Certain Contracts for Future Delivery Void; Exceptions.
Full text of Alabama Code of Alabama § 8-1-121 — Certain Contracts for Future Delivery Void; Exceptions., with citation guidance and answers to common questions.
§ 8-1-121. Certain Contracts for Future Delivery Void; Exceptions.
(a) All contracts of sale for the future delivery of any commodity, article, personal property, stock or bond, wherein the parties thereto do not intend a delivery of the article contracted for, but do intend to gamble on the difference between the contract price and some subsequent market price, shall be illegal and void, and no action shall be maintained in any court to enforce such contract or to compel payment of any note or security given in payment or settlement of the same.
(b) The provisions of subsection (a) of this section shall not be construed so as to apply to any person, firm, corporation or his or their agent, engaged in the business of manufacturing or wholesale merchandising in the purchase or sale of the necessary commodities required in the ordinary course of their business.
Frequently Asked Questions About Alabama § 8-1-121
What does Code of Alabama § 8-1-121 cover?
Section 8-1-121 ("Certain Contracts for Future Delivery Void; Exceptions.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 8-1-121?
A common citation format is "Code of Alabama § 8-1-121" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 8-1-121 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.