502.507  Enforceability of illegal contracts.

It shall be a defense to an action based on a contract for the purchase or sale of a security that the plaintiff or the plaintiff's assignor entered into the transaction which gave rise to the contract under circumstances which would subject the plaintiff or the assignor to liability under section 502.501, 502.502, or 502.503.

Section History: Early form

  [C77, 79, 81, § 502.507]


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