A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.
Structure Code of Alabama
Article 8 - Investment Securities.
Part 1 - Short Title and General Matters.
Section 7-8-101 - Short Title.
Section 7-8-102 - Definitions.
Section 7-8-104 - Acquisition of Security or Financial Asset or Interest Therein.
Section 7-8-105 - Notice of Adverse Claim.
Section 7-8-107 - Whether Indorsement, Instruction, or Entitlement Order Is Effective.
Section 7-8-108 - Warranties in Direct Holding.
Section 7-8-109 - Warranties in Indirect Holding.
Section 7-8-110 - Applicability; Choice of Law.
Section 7-8-111 - Clearing Corporation Rules.
Section 7-8-112 - Creditor's Legal Process.
Section 7-8-113 - Statute of Frauds Inapplicable.
Section 7-8-114 - Evidentiary Rules Concerning Certificated Securities.
Section 7-8-115 - Securities Intermediary and Others Not Liable to Adverse Claimant.
Section 7-8-116 - Securities Intermediary as Purchaser for Value.