Brown v. Cole

Respondents Cole and Gould sued to recover from Brown the sum of $10,000.00 expended in an alleged purchase of securities sold to them by petitioner, Brown, in violation of Article 600a, Vernon’s Civil Statutes, and commonly known as the Texas Securities Act. Judgment in favor of respondents has been affirmed by the Court of Civil Appeals. 276 S.W. 2d 369. We agree with that result.

The facts are set forth in great detail in that opinion and we shall only summarize them as briefly as possible.

A mining operator in Mexico, Howard Fields, required funds for further development of his properties.…