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Some body v. Figueroa (1986) 41 Cal.three dimensional 714 , 224 Cal.Rptr. 719; 715 P.2d 680 [Crim. Zero. 24252. Best Judge from California. April 7, 1986.]

(Viewpoint by the examine this site Bird, C. J., having Mosk, Broussard, Grodin, JJ., and you will Takei (Taketsugu), J., concurring. Independent concurring advice by Reynoso, J., which have Lucas, J., concurring.)

John K. Van de Kamp, Attorneys General, Edward P. O’Brien, Secretary Attorneys Standard, Derald Elizabeth. Granberg and you will Robert Roentgen. Granucci, Deputy Attorneys General, having Plaintiff and you may Respondent.

The primary concern presented from this attention is if the fresh new demonstration judge, within the a great prosecution to your product sales regarding unqualified ties, erred [41 Cal.three dimensional 718] inside training this new jury any particular one “Firm Promissory Notes” was “securities” when you look at the concept of the corporate Bonds Rules. (Corp. Password, § 25000 mais aussi seq. fn. 1)

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Joseph and Dennis Figueroa interest off a judgment out-of conviction getting you to definitely amount out-of offering unqualified ties. (§§ 25110, 25540.) The jury deadlocked to your 13 extra counts, 7 so-called up against Joseph and you will four against Dennis. Afterwards, a beneficial mistrial try proclaimed to your those people counts, plus they was in fact ignored into realizing that they may be believed because of the judge to have restitution motives. One another appellants received regards to probation that have conditions in addition to restitution, a suspended county prison identity, and you will people service.

In middle-February regarding 1979, Arlo Kurrle responded to an advertising which had starred in the brand new San Jose Mercury Reports. This new offer stated “Solar & Times Business. Lover wished having $seven,000 or higher. Productive otherwise nonactive.” Kurrle named one of the a couple telephone numbers listed in the brand new post and spoke so you can Joseph Figueroa, exactly who revealed a current insulation team and his want to expand towards the solar energy.

Kurrle found Joseph and his awesome boy, Dennis, the very next day. The newest Figueroas informed Kurrle regarding Figueroa Insulation & Time Co., Inc. (Insulation) from which Dennis try chairman. The latest solar powered energy business could feel a business. Kurrle been aware of one or two others, Figueroa Financial Insurance rates Qualities, Inc. (Insurance) and you may Figueroa Business & Financial Consultants (Financial).

Joseph and you may Dennis suggested one Kurrle dedicate $10,000 inside their organization. The money would be to be used toward purchase of insulation products and also the installation of phones familiar with get loan consumers.

In the basic fulfilling, Kurrle and Joseph talked about if Kurrle were to feel productive during the the company. Kurrle shown interest in having a primary role, perhaps from the sales or government areas.

A short time afterwards, Kurrle entitled Joseph and you may provided to provide the business $ten,100000. There can be no dialogue on which function Kurrle’s financial support [41 Cal.three-dimensional 719] carry out simply take, however, Kurrle “are convinced when it comes to financing . that will be noted.” From inside the discussion, Joseph informed Kurrle which he will be an officer in one single of your own Figueroa businesses.

Along side second per month, Kurrle paid back the cash into the Figueroas for the five separate installments confirmed of the five 2-12 months cards. fn. 2 Brand new cards was to secure 10% notice a-year. Kurrle met with the substitute for grab commission during the cash or shares of company. The latest next mortgage cost, having $2,five hundred, constituted the foundation on fees about what brand new Figueroas was fundamentally found guilty. fn. 3 Kurrle produced financing giving new Figueroas a check payable so you can Dennis. The loan try saw from the an effective “Firm Promissory Mention” regarding Insulation that was finalized of the Dennis. Inside relevant area they said:

On the Well worth Received, into the otherwise Ahead of 2 years immediately following date, without grace New Figueroa Insulation & Time Organization, Inc., promises to pay with the acquisition away from Mr. Arlo Kurrle, out of San Jose, Ca or within their office or home. [¶] The sum of $2,five hundred several thousand bucks & Five-hundred in the rate away from ten% per cent annum until paid off. . [¶] . Its [sic] consented and you may understood, that agency notice is all due an [sic] payable in the 2 years regarding go out of notice as well as [sic] next conformed and you can know, one notice is usually to be paid down annual [sic] every year, but all due and you can payable April 27th, 1981. . “