COMMODITIES INTERNATIONAL, INC. v. EURE

No. 7410SC408.

207 S.E.2d 777 (1974)

22 N.C. App. 723

COMMODITIES INTERNATIONAL, INC. v. Thad EURE, Secretary of State, et al.

Court of Appeals of North Carolina.

August 21, 1974.


Attorney(s) appearing for the Case

Atty. Gen. Robert Morgan by Associate Atty. Keith L. Jarvis, Raleigh, for defendants-appellants.

Clayton, Myrick & McCain by Grover C. McCain, Jr., Durham, for plaintiff-appellee.


MORRIS, Judge.

The sole question presented for our determination is whether London options are "securities" subject to regulation by the State under the Securities Law, G.S. Chap. 78. If London options fall within the definition of "securities" in G.S. § 78-2(g), then their sale is clearly illegal without prior registration with the Secretary of State. G.S. § 78-23(b); G.S. § 78-19; G.S. § 78-6.

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