...determine whether a particular financial relationship constitutes an investment contract, "[t]he test is whether the scheme involves an investment of money...profits to come solely from the efforts of others." Howey, 328 US, at 301. This test is to be applied in light of "the substance — the economic realities...

...which is sold has intrinsic value independent of the success of the enterprise as a whole. The test is whether the scheme involves an investment of money...sale of property with or without intrinsic value. See SEC v. Joiner Corp., supra, 352. The statutory policy of affording broad protection to investors...

...securities. P. 300. 4. The test of whether there is an "investment contract" under the Securities Act is whether the scheme involves an investment of money...profits to come solely from the efforts of others; and, if that test be satisfied, it is immaterial whether the enterprise is speculative or non-speculative...

...securities. P. 300. 4. The test of whether there is an "investment contract" under the Securities Act is whether the scheme involves an investment of money...profits to come solely from the efforts of others; and, if that test be satisfied, it is immaterial whether the enterprise is speculative or non-speculative...

...Supreme Court has noted that for the purposes of the Securities Act of 1933 the test for a security is whether the scheme involves an investment of money...profits to come solely from the efforts of others. SEC v. Howey, Co., 328 US 293, 301 (1946). See also 8.EC v. Variable Annuity Life Ins. Co., 359 US...

...Supreme Court has noted that for the purposes of the Securities Act of 1933 the test for a security is whether the scheme involves an investment of money...profits to come solely from the efforts of others. SEC v. Howey, Co., 328 US 203, 801 (1846). See also SEC v. VariaUe Annuity Life Ins. Co., 359 US 65...

...Supreme Court has noted that for the purposes of the Securities Act of 1933 the test for a security is whether the scheme involves an investment of money...profits to come solely from the efforts of others. SEC v. Hcnoey, Co., 328 TT.S. 293, 301 (1946). See also SEC v. Variable Annuity Life Ins. Co., 3r>9...

...v. WJ Howey Co., the Supreme Court set forth a broad definition of "investment contract": The test is whether the scheme involves an investment of money...profits to come solely from the efforts of others. 328 US 293, 301, 66 S.Ct 1100, 1104, 90 L.EM. 1244. This definition of an investment contract can include...

...v. WJ Howey Co., the Supreme Court set forth a broad definition of "investment contract": The test is whether the scheme involves an investment of money...profits to come solely from the efforts of others. 828 US 293, 301, 66 S.Ct 1100, 1104, 90 L.Ed. 1244. This definition of an investment contract can include...

...the definition of SEC v. WJ Howey Co., 328 US 293 (1946). Under that case, a security involves the "investment of money in a common enterprise with profits to come solely from the efforts of others." 328 US at 301. The profits arising out of the contract between plaintiffs and Old Security went initially...