...adopted a definition of "investment contract" which is now widely accepted : "A contract, transaction or scheme whereby a person invests his money in a...in the physical assets employed in the enterprise." 6* Under this definition, it was not difficult for the SEC to conclude that an offering of resort condominiums...

...futures contracts. The classic definition of investment contract is tliiit it is "a contract, transaction or scheme whereby a person invests his money in a common enterprise and is lead to expect profits solely from the efforts of the promoter or a third party ..." A brief reference...

...[1975] .) A real estate sale involves an investment contract , and triggers SEC involvement, when: "a person invests his money in a common enterprise...led to expect profits solely from the efforts of the promoters or a third party." (SEC v. WJ Howey Co., 328 US 293 [1946].) The SEC indicated that the following...

...what has become the generally accepted definition of an investment contract: A contract, transaction or scheme whereby a person invests his money in a...in the physical assets employed in the enterprise. The Howey case is important not only because of the principle it set forth, but because the facts are...

...category of security for purposes of the federal securities laws, includes a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits from the efforts of the promoter oc a third party. It is immaterial whether the shares in the enterprise...

...investment contract is an instrument which includes a contractual agreement transaction or scheme by which a person invests his money in a common enterprise and is led to expect profits as a result of the efforts of a promoter or third party. It is immaterial, under the Federal securities...

...held that "an investment contract for purposes of the Securities Act means a contract, transaction or scheme whereby a person invests his money in a...from the efforts of the promoter or a third party." We shall show that coverage under a plan such as that at issue here lacks essential elements of the...

...contract," which meant "a contract, transaction or scheme whereby a person invests his money in a commor. enterprise and is led to expect profits solely from the efforts of the promoter or a third party."'8 This formulation, still generally considered to be the classic definition,20 was held to...

...77b(l). Almost 40 years ago this Court held that an "investment contract" is a "contract, transaction or scheme whereby a person invests his money in a...from the efforts of the promoter or a third party " SEC v. Howey Co., 328 US 293, 298-299 WHITE, J., dissenting 469 US Fenner & Smith, Inc., 622 F. 2d...

...in SEC v WJHoivey Co (328 US 293 at 298-299, 66 S Ct 1100, 1103-03) as a contract or scheme in which a person invests his money in a common enterprise...from the efforts of the promoter or a third party. A loan is clearly not an investment contract, so this jurisprudence does not assist. 4 Securities Act...