Best Judge out of Ca
- Opinion
- Docket
Individuals v. Figueroa (1986) 41 Cal.three-dimensional 714 , 224 Cal.Rptr. 719; 715 P.2d 680 [Crim. Zero. 24252. Best Judge out-of California. April 7, 1986.]
(Advice by Bird, C. J., that have Mosk, Broussard, Grodin, JJ., and you can Takei (Taketsugu), J., concurring. Separate concurring opinion from the Reynoso, J., that have Lucas, J., concurring.)
John K. Van de Kamp, Attorneys Standard, Edward P. O’Brien, Secretary Attorney General, Derald Elizabeth. Granberg and Robert Roentgen. Granucci, Deputy Attorneys General, to have Plaintiff and you may Respondent.
The main concern demonstrated from this focus is whether or not the new demo court, inside the a prosecution on sale out-of unqualified securities, erred [41 Cal.three-dimensional 718] inside instructing the fresh jury that one “Corporation Promissory Notes” was in fact “securities” within the meaning of the organization Bonds Rules. (Corp. Code, § 25000 mais aussi seq. fn. 1)
Stanford Rules University – Robert Crown Laws Library
Joseph and Dennis Figueroa attract of a judgment off belief getting one to matter away from offering unqualified bonds. (§§ 25110, 25540.) The latest jury deadlocked towards 13 a lot more counts, eight so-called facing Joseph and four up against Dennis. After that, an effective mistrial is actually stated into the people matters, and additionally they was in fact overlooked into comprehending that they might be noticed by legal to own restitution intentions. Each other appellants were given regards to probation with standards plus restitution, a suspended condition jail identity, and you can community services.
Inside mid-February out of 1979, Arlo Kurrle responded to a publicity which had starred in new San Jose Mercury News. This new offer mentioned “Solar power & Opportunity Company. Companion desired having $7,100 or maybe more. Productive or nonactive.” Kurrle named among the one or two phone numbers placed in this new offer and you will talked so you’re able to Joseph Figueroa, whom demonstrated a current insulation team and his awesome desire to develop into solar energy.
Kurrle met Joseph and his guy, Dennis, 24 hours later. New Figueroas informed Kurrle regarding Figueroa Insulation & Energy Co., Inc. (Insulation) at which Dennis is actually chairman. Brand new solar powered energy business would end up being a corporation. Kurrle been aware of several other programs, Figueroa Financial Insurance Functions, Inc. (Insurance) and you can Figueroa Providers & Economic Professionals (Financial).
Joseph and you will Dennis proposed you to Kurrle dedicate $ten,100000 in their organization. The cash was to be studied to the acquisition of insulation devices and also the installation of telephones regularly obtain mortgage people.
At very first meeting, Kurrle and you can Joseph discussed if or not Kurrle were to feel active for the the organization. Kurrle expressed demand for that have a primary role, perhaps regarding the conversion otherwise government elements.
A short time afterwards, Kurrle called Joseph and you can agreed to provide the organization $10,one hundred thousand. There clearly was zero conversation about what function Kurrle’s resource [41 Cal.three dimensional 719] carry out just take, but Kurrle “are thinking with regards to that loan . that will be recorded.” Inside the discussion, Joseph informed Kurrle he could be a police in a single of your own Figueroa providers.
Along the next 30 days, Kurrle repaid the money towards Figueroas during the five independent payments evidenced of the five 2-12 months notes. fn. 2 The fresh notes was to secure 10 % appeal per year. Kurrle encountered the option to grab commission during the cash or offers of one’s providers. The new fourth mortgage installment, to have $dos,five hundred, constituted the cornerstone for the fees on which this new Figueroas had been fundamentally convicted. fn. 3 Kurrle generated financing by giving this new Figueroas a check payable to Dennis. The loan is observed by a beneficial “Company Promissory Mention” off Insulation that has been closed by Dennis. Inside the associated region it said:
For the Well worth Received, into otherwise Before 2 years immediately following date, versus sophistication The latest Figueroa Insulation & Times Organization, Inc., promises to shell out on buy out of Mr. Arlo Kurrle, away from San Jose, Ca otherwise in the their home or office. [¶] The sum of the $2,five hundred a couple thousand cash & 500 at the speed off ten% percent annum payday loans NC up to paid back. . [¶] . Their [sic] conformed and you will understood, that the business notice is all due an [sic] payable into the 2 years away from time for the mention as well as [sic] after that consented and you can understood, you to definitely appeal is usually to be reduced annual [sic] each year, but most of the owed and you can payable April 27th, 1981. . “