UNITED SPORTFISHERS v. BUFFO

No. 75-2475.

597 F.2d 658 (1978)

UNITED SPORTFISHERS, a California Corporation, California Sport Fishing Corporation, a California Corporation, San Diego Recreoceanal Equipment, Inc., a California Corporation, Ralph Gano Miller, Jr., an individual, and Jeanne W. Miller, an Individual, Plaintiffs, v. Pete J. BUFFO, an Individual, W. C. Ogle, an Individual, Preston Kerr, an Individual, Millis E. Carr, an Individual, Paul B. Stanley, an Individual, Lawrence C. Wall, an Individual, John Cameron Davis, an Individual, William E. Miller, an Individual, Don Lake, an Individual, Ute-Cal Land Development Corporation, Cal-Ute Oil Company, Stanley Abstract & Title Company, Title Insurance of Minnesota, Charisma Petroleum Corp., d/b/a Charisma Oil Co., Compu-Tek, Graphicon Industries, Inc., Berkroy Development Co., Inc., James Mack, an Individual, Evans-Mansfield Corp., Property Escrow Co., Pinon Ridge Land Company, Gil Reimer, an Individual, Jeff Hanscom, an Individual, and the vessels Mascot IV and Malihini, Official Nos. 297291 and 265205, their engines, apparel, fixtures, tackle, gear, etc., Defendants.

United States Court of Appeals, Ninth Circuit.

November 6, 1978.


Attorney(s) appearing for the Case

Thomas M. Monson (argued), San Diego, Cal., for plaintiffs.

Susanne J. Stanford (argued), San Diego, Cal., for defendants.

Before CHOY and ANDERSON, Circuit Judges, and PALMIERI, District Judge.


CHOY, Circuit Judge:

The sellers of two sportfishing vessels appeal from the dismissal of their action brought under the federal securities acts. The district court determined that it lacked subject matter jurisdiction because the land sale contracts and promissory notes given as consideration for the sale were not "securities" within the meaning of the securities acts. 396 F.Supp. 310, 313-14 (S.D.Cal.1975). We affirm.

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