DOUGLASS v. STANGER

No. 18145-6-III.

2 P.3d 998 (2000)

101 Wash.App. 243

Harlan DOUGLASS, Appellant, v. Kenneth W. and Kimberly M. STANGER, Defendants, Barnes Management and Development, Inc., a Washington Corporation; McCarthy Management and Development Company, a Washington Corporation; Orville Barnes and Jane Doe Barnes, Respondents.

Court of Appeals of Washington, Division 3, Panel Eight.

June 22, 2000.


Attorney(s) appearing for the Case

Michael J. Murphy, Robynne T. Parkinson, Marisa M. Bavand, Groff & Murphy, Seattle, for Appellant.

Robert A. Dunn, Michael S. Bissell, McCormick, Dunn & Black, Spokane, for Respondents.


SWEENEY, J.

A security has been defined liberally and broadly to include any note. In fact, there is a presumption that every note is a security. Reves v. Ernst & Young, 494 U.S. 56, 65, 110 S.Ct. 945, 108 L.Ed.2d 47 (1990). In this case, Harlan Douglass gave Kenneth Stanger $23,000 in exchange for a promissory note and an "Investment Agreement" promising a 40 percent ownership interest...

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