Pratt v. Kross

*485HOLMAN, J.

Plaintiff brought an action for fraud under ORS 59.115(l)(b) of the Oregon Securities Law. Defendant’s demurrer to the complaint, which was based upon failure to allege a cause of action, was sustained and plaintiff appealed from an order of dismissal which resulted from her failure to plead further.

Plaintiff’s action was to recover a $15,000 investment she made as a limited partner in a business operated by defendant. The court sustained the demurrer on the specific ground that an ordinary limited partnership interest is not a security under the Oregon Securities Law, and whether…