Act Info:
(1) Save as hereinafter provided in this Act, any contract (whether either party thereto is a member of a recognised cotton association or not) which is entered into after the date on which this Act comes into operation and which is not in accordance with the by-laws of any recognised cotton association shall be void.
(2) No claim shall be allowed in any Court for the recovery of any commission, brokerage, fee or reward in respect of any such contract.
NOTES
Contract not void.-- Contract notes not mentioning the difference of rupees above or below the settlement rate of hedge contract for the purpose of periodical settlement as required by by-laws and no provision made with respect to measurement of bales as required by by-law. It was held that the contracts were not void. - AIR 1958 SC 713 : 1959 S. C. R. 346.