Oil and gas leases: should they be considered securities. Sheppard v. Boettcher and Company, Inc. , 613 F. Supp. 287 (D. Wyo. 1985), appeal docketed, No. 85-2235 (Aug. 16, 1985)
Journal Article
·
· Land Water Law Rev.; (United States)
OSTI ID:6185820
Analysis of the Sheppard v. Boettcher and Co. suit over whether oil and gas leases should be considered securities concludes that Wyoming adopted the Uniform Securities Act to protect citizens against fraud. The reading given the Wyoming statute by the district court disregards the general purpose of the regulation and ignores the counsel of the US Supreme Court that courts should construe the details of an act in conformity with its dominating general purpose. By determining that interests in oil, gas, and mining leases are not securities, the district court leaves Wyoming standing alone against all other states and the federal government. Securities legislation is remedial in nature, and calls for a liberal interpretation.
- OSTI ID:
- 6185820
- Journal Information:
- Land Water Law Rev.; (United States), Journal Name: Land Water Law Rev.; (United States) Vol. 21:1; ISSN LWLRD
- Country of Publication:
- United States
- Language:
- English
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