GroundRules
Ark. Code Ann. § 23-44-103: Requirements for validity of contracts
Where this section sits in the code
- AR Code
- Title 23
- Chapter 44
(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 the requirements of subsection (a) of this section, but must also be made subject to the provisions of the United States Cotton Futures Act. If this clause should for any reason be held inoperative, then contracts for the future delivery of cotton shall be valid and enforceable if they conform to the requirement of subsection (a) of this section. Acts 1929, No. 208, § 2; Pope's Dig., § 3343; A.S.A. 1947, § 68-1002.
(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.
(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 the requirements of subsection (a) of this section, but must also be made subject to the provisions of the United States Cotton Futures Act. If this clause should for any reason be held inoperative, then contracts for the future delivery of cotton shall be valid and enforceable if they conform to the requirement of subsection (a) of this section.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source