Maddox v. Flato

OPINION

NYE, Justice.

This is a suit to recover a commission brought by Ned Maddox, plaintiff, against defendants Franklin Flato and Flato Realty Investments. Plaintiff alleged that the defendants orally agreed to pay for his services rendered in connection with the purchase by Flato Realty Investments of all of the stock of the Main and Akard Investment Corporation. The defendants filed a motion for summary judgment based upon Art. 581-34, Vernon’s Ann.Tex.Rev. Civ.Stat. of “The Securities Act” which forbid the maintenance of a suit for a commission by any person not a license security dealer,…