Foelker v. Kwake

This is an action for fraud under the Oregon Securities Law, ORS 59.115(l)(b). The case was tried before the court, sitting without a jury. Defendants appeal from a judgment for plaintiff in the sum of $9,162.65. We affirm.

1. The transaction between the parties constituted the "sale" of a "security."

Defendants’ principal contention is that the trial court erred in finding that a promissory note to plaintiff for $6,000 was a "security” and in failing to find that the "overall transaction” was "not an 'investment contract.’ ” Because this is an appeal from a judgment in favor of plaintiff in an…