EL CLARO OIL GAS CO v. DAUGHERTY (1936)

In denying respondent's petition for a hearing in this court, we withhold our approval from those portions of the opinion of the District Court of Appeal which hold, or can be construed as holding, that the three instruments therein considered were not, when issued separately, within the meaning of section 2, division (a), paragraph 7 of the Corporate Securities Act (Deering's Gen.Laws 1931, Act 3814). It is not necessary to determine these questions at this time. We are convinced that the transactions here involved, when entered into without a permit, constitute a violation of the act.

The petition is denied.

PER CURIAM.