U.S. Supreme Court
Otis v. Parker, 187 U.S. 606 (1903)
Otis v. Parker
Argued December 11-12, 1902
Decided January 6, 1903
187 U.S. 606
The provision in article IV, section 26 of the Constitution of California, providing that
"all contracts for the sales of shares of the capital stock of any corporation or association on margin, or to be delivered at a future day, shall be void, and any money paid on such contracts may be recovered by the party paying it by suit in any court of competent jurisdiction,"
is not contrary to the first section of the Fourteenth Amendment of the Constitution of the United States so far as it relates to sales on margins.
The case is stated in the opinion of the Court.