Older Uniform Acts

Securities Transfer Act


DIVISION 9 - ENFORCEABILITY OF CONTRACT AND RULES OF EVIDENCE

Statute of Frauds inapplicable

61    A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is some 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.

Rules of evidence re action on certificated security

62(1)    The evidentiary rules set out in this section apply to a legal action on a certificated security against the issuer of that security.
(2)    Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary endorsement is admitted.
(3)    If the effectiveness of a signature is put in issue, the burden of establishing the effectiveness of the signature is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.
(4)    If signatures on a security certificate are admitted or established, the production of the certificate entitles a holder to recover on the certificate unless the defendant establishes a defence or a defect that goes to the validity of the security.
(5)    If it is shown that a defence or defect exists, the plaintiff has the burden of establishing that the defence or defect cannot be asserted against
(a)    the plaintiff, or
(b)    some person under whom the plaintiff claims.

Next Annual Meeting

2020 Annual Meeting

Place to be Announced

August 9 – 13, 2020