{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-562","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-562","heading":"Contract of sale valid, when","body":"All contracts of sales for future delivery of cotton, grain,\n\nstocks or other commodities (1) made in accordance with the rules of\n\nany board of trade, exchange or similar institution where such\n\ncontracts of sale are executed and (2) actually executed on the\n\nfloor of such board of trade, exchange or similar institution and\n\nperformed or discharged according to the rules thereof; and (3) when\n\nsuch contracts of sale are placed with or through a regular member\n\nin good standing of a cotton exchange, grain exchange, board of\n\ntrade or similar institution organized under the laws of the State\n\nof Oklahoma or any other state shall be, and they are hereby\n\ndeclared to be valid and enforceable in the courts of this state\n\naccording to their terms. Provided, that contracts of sale for\n\nfuture delivery of cotton in order to be valid and enforceable as\n\nprovided herein must not only conform to the requirements of clauses\n\n(1) and (2) of this section, but must also be made subject to the\n\nprovisions of the United States Cotton Futures act, approved August\n\n11th, 1916; provided further, that if this clause should for any\n\nreason be held inoperative then contracts for the future delivery of\n\ncotton shall be valid and enforceable if they conform to the\n\nrequirements of clauses one and two of this section.","path":["OK Code","Title 15"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os15.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"03b460e7c91d719ab01d5a50477fb0e6b54ca3f84fe7cfc51ee0ed018dc2e283","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-561","next":"us-ok/okla.-stat.-tit.-15-15-563"},"notice":"GroundRules: Original legal text. Not legal advice."}