State v. Allen

The transactions with respect to which the defendants were indicted involved the sale or assignment of oil and gas leases on certain lands in the State of New Mexico, and the determinative question presented by the appeal is whether these lease assignments are embraced within the definition of “securities” contained in the North Carolina Capital Issues Law.

This statute defines the securities which come within the purview of the act as follows :

“The term 'securities’ or 'security’ shall include any note, stock certificate, stock, treasury stock, bond, debenture, evidence of indebtedness,…