(DOWNLOAD) "Cellular Engineering V. O'neill" by Supreme Court of Washington # eBook PDF Kindle ePub Free

eBook details

Title: Cellular Engineering V. O'neill
Author : Supreme Court of Washington
Release Date : January 12, 1991
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 69 KB

Description

The Federal Communications Commission (FCC) regulates the cellular telephone industry. In 1984, the FCC adopted a lottery system to determine, for each of numerous specified areas, who would receive the license to establish a cellular telephone system in that area. Winners of the lottery would be issued construction permits, and only after various permit requirements were fulfilled would the actual licenses be granted. Lottery entrants were required to complete an application containing detailed technical, geographical, demographic, and financial information. Because of the complexity of these applications, several application filing firms developed. These firms gathered the necessary information to prepare generic applications, then filed nearly identical applications for a number of investors. Typically, these firms also offered investors a range of postfiling services. The plaintiff, Cellular Engineering, Ltd. (Cellular), is one such application filing firm. The defendant, Dennis O'Neill, entered into an application purchase agreement with Cellular under which Cellular completed FCC lottery applications for O'Neill. The present dispute arose when O'Neill refused to pay fees Cellular claimed to be due. The primary issue here is whether Cellular's activities constitute the sale and offer for sale of securities under The Securities Act of Washington, RCW 21.20. We hold that they do. Those securities were not registered, in violation of RCW 21.20.140. Because Cellular's application purchase agreements with its customers were made in violation of the act's registration requirement, Cellular may not base any suit upon its agreement with O'Neill. Accordingly, Cellular's agreement with O'Neill is unenforceable.