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SEARSY v. COMMERCIAL TRADING CORP.

No. B-6775.

560 S.W.2d 637 (1977)

H. E. SEARSY et al., Petitioners, v. COMMERCIAL TRADING CORPORATION et al., Respondents.

Supreme Court of Texas.

Rehearing Denied February 8, 1978.

Attorney(s) appearing for the Case

Dean Carlton, Dallas, for petitioner.

Sessions, Sessions, Neill, Scucchi & Hatch, W. R. Sessions, Dallas, Walker, Bishop & Larimore, Tom L. Larimore and James R. Lamsens, Fort Worth, for respondent.

DENTON, Justice.

The question to be decided in this case is whether certain commodity options sold by Commercial Trading Corporation to plaintiffs are "securities" within the meaning of the Texas Securities Act.1 The trial court held that the commodity options in question are securities, and rendered judgment for plaintiffs for damages and rescission of the option sales. The court of civil appeals concluded that the commodity options are...

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