Tumbleweed Bowling Corporation v. Matise

PARKER, Justice.

Appellee P. T. Matise filed suit against the appellant Tumblewood Bowling Corporation to recover $15,000.00 for services rendered by appellee to appellant. Among other services performed, appellee sold approximately $150,000.00 worth of the common stock of Tumblewood Bowling Corporation to various people in the Beaumont area, claiming a fee or commission of 10%. Relying upon the provisions of The Texas Securities Act, appellant denied liability on the grounds that (a) appellee was not a licensed securities dealer or salesman and (b) that appellee used “public solicitation” or…