This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 Excerpt: ...the case as stated in the foregoing certificate is this: "Where a contract between a citizen of the state of New York and a citizen of the state of Texas is entered into, made, and executed in the state of New York, for the sale of cotton for future delivery upon the New York Cotton Exchange, pursuant to the rules, ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 Excerpt: ...the case as stated in the foregoing certificate is this: "Where a contract between a citizen of the state of New York and a citizen of the state of Texas is entered into, made, and executed in the state of New York, for the sale of cotton for future delivery upon the New York Cotton Exchange, pursuant to the rules, regulations, customs, and usages of said Exchange, and the same is a valid exigible contract in the state of New York, does the statute of the state of Texas (known as the 'Bucket Shop Law') passed by the 30th legislature of the state of Texas, in 1907, the same being incorporated in the Revised Criminal Statutes of Texas (1011) as chapter 3, pages 141, 142, or any public policy therein declared, prevent a district court of the United States, sitting in Texas, wherein a suit is brought to recover for breach of said contract, from granting such relief as otherwise but for such statute the parties would be entitled to have and receive?" We construe the question as simply asking whether, under the pleadings as stated in the certificate, a cause of action was disclosed which there was jurisdiction to hear, taking into consideration the local law, including the provisions of the Texas statute referred to in the question. It is obvious on the face of the pleadings, as stated in the certificate, that the contract the enforcement of which was sought was valid under the laws of the state of New York, the place where it was entered into and where it was executed, and this validity was not and could not be affected by the laws of the state of Texas, as, in 7i the nature of things, such laws could have no extraterritorial operation. This conclusion is, however, negligible, as the question is not whether the contract was valid, but whether, being va...
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