Young v. Three for One Oil Royalties

The facts of this case are adequately and correctly stated in our former opinion (Cal.) [31 Pac. (2d) 789] as follows:

“The appeal is from a judgment in favor of the defendants in an action brought to recover the amounts paid for certain certificates of beneficial interests in a common-law trust, it being the theory of the complaint that the sales of the interests were in violation of the Corporate Securities Act, and that defendants had falsely and fraudulently represented that they had secured a permit from the corporation commissioner to sell the certificates and had fully complied with the…