Cox v. Lemonds

Fain, Judge.

Plaintiff-appellant Craig S. Cox appeals from a judgment of the trial court adopting a referee’s report and recommendation and dismissing Cox’s complaint against defendant-appellee M. Larry Lemonds. Cox contends that the trial court erred in concluding that the partnership interest that Cox purchased from Lemonds was not a “security” within the meaning of R.C. Chapter 1707 and that the sale of the interest could not be rescinded pursuant to R.C. 1707.43. Specifically, Cox contends that the partnership interest was a “security” because, as a matter of law, he did not obtain any…