Alabama Code 8-1-123. Failure to deliver after deposit of margins prima facie evidence of void contract
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Terms Used In Alabama Code 8-1-123
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Proof that anything of value agreed to be sold and delivered was not actually delivered at the time of making the agreement to sell and deliver and that one of the parties to such agreement deposited or secured, or agreed to deposit or secure, what are commonly called “margins” shall constitute prima facie evidence of a contract declared void by this article.