O.C.G.A. § 13-8-59 (2019)
(For effective date, see note.) Construction with federal provisions
Nothing in this article shall be construed or interpreted to allow or to make enforceable any restraint of trade or commerce that is otherwise illegal or unenforceable under the laws of the United States or under the Constitution of this state or of the United States.
History
(Code 1981, § 13-8-59, enacted by Ga. L. 2009, p. 231, § 3/HB 173.)
Annotations
Editor’s notes. - For information as to the effective date of this Code section, see
the delayed effective date note at the beginning of this article.
CHAPTER 9 CONTRACTS FOR FUTURE DELIVERY OF COTTON, GRAIN, ETC. Sec.
Definitions. Requirements for valid and enforceable contracts of sale for future delivery of cotton, grain, stocks, and other items, generally; future delivery contracts where actual delivery of commodities bought or sold not contemplated declared unlawful. Contracts of sale for future delivery of cotton, grain, stocks, or other commodities, absent bona fide intention of parties as to delivery, execution of contract upon floor of exchange declared null and void; penalty for entering into or assisting entering into such contracts.
Cross references. - Commodities and commodity contracts and options, Ch. 5A, T. 10.
Law reviews. - For note, ‘‘Opportunity
Sec.
Furnishing of written statement as to location, date, and other details of execution of contract for future delivery of cotton, grain, stocks to principal for whom contract executed; effect of failure to furnish statement. Organization of cotton exchanges, boards of trade to receive and post quotations; adoption of rules and regulations; inspection of books. Maintenance or operation of bucket shop. Effect of conflict between provisions of chapter and Uniform Commercial Code.
Costs: Nonjudicial Foreclosure and the Subprime Mortgage Crisis in Georgia,’’ see 25 Ga. St. U.L. Rev. 1205 (2009).
JUDICIAL DECISIONS This chapter merely legalized certain brokerage activities which had been illegal under prior Georgia law. Mitchell-Huntley Cotton Co. v. Lawson, 377 F. Supp. 661 (M.D. Ga. 1973).
There can be a sale of an unplanted crop. Cone Mills Corp. v. A.G. Estes, Inc., 377 F. Supp. 222 (N.D. Ga. 1974). Cited in Hutchinson v. Brown, 47 Ga. App. 82, 169 S.E. 848 (1933).
RESEARCH REFERENCES ALR. - Validity and construction of contract for sale of season’s output, 1 ALR 1392; 9 ALR 276; 23 ALR 574. Validity and effect of provision in contract
of sale which, in effect, guarantees the buyer against decline in prices, 29 ALR 112. Validity of transactions in futures, 83 ALR 522.