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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Granberry v. Islay Investments, 161 Cal. App. 3d 382 (1984)

Citation
Granberry v. Islay Investments, 161 Cal. App. 3d 382 (1984)
Parent Document
Granberry v. Islay Investments, 161 Cal. App. 3d 382 (1984)
Jurisdiction
California (state)
Effective Date
1984-10-30

Other Sections in This Document (61)

Full Text

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A literal reading of subdivision (b), however, reveals a conundrum. Included in the definition of a security is “[A]n advance payment of rent, used or to be used for any purpose, ...” Therefore, a legitimate advance payment of rent would be a security. Such an absurd result would effectively put most landlords out of business and render tenants homeless. This is not the first statute to teeter on the brink of unintelligibility.