PEOPLE v. GOULD (1951)

Supreme Court of California, in Bank.

PEOPLE v. GOULD et al.

Cr. 5221.

Decided: September 28, 1951

Cletus J. Hanifin, Los Angeles, for appellants. Fred N. Howser and Edmund G. Brown, Attys. Gen., Frank Richards, Deputy Atty. Gen., William E. Simpson and S. Ernest Roll, Dist. Attys., and H. L. Arterberry, Deputy Dist. Atty., Los Angeles, for respondent.

The appeal in this case is from judgments of conviction of the defendants Gould and Diamond on several counts of issuing securities without first having obtained a permit pursuant to the provisions of the Corporate Securities Law, Corporations Code, sec. 25000 et seq.

The defendant Ruth Gould with the assistance of her brother, S. P. Diamond, conducted a theatrical school. They entered into contracts with parents of children for the training and participation of the children in television films for a stated fee in return for which the participants were to receive a specified percentage of profits realized from the sale of the film. The same type of contract was involved as was considered in the case of People v. Syde, Cal.Supp., 235 P.2d 601. Our decision is that case that such contracts are not securities within the meaning of the statute controls the disposition of the appeal herein.

The judgments are reversed.

SHENK, Justice.

GIBSON, C. J., and EDMONDS, CARTER, TRAYNOR, SCHAUER and SPENCE, JJ., concur.

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