Legal Opinion
Securities Administrator v. College Assistance Plan (Guam) Inc.
District Court, D. Guam
Decided December 22, 1981No. Civ. 80-0222APublishedCited by 2 opinions
1Opinion of the Court
OPINION
LAURETA, District Judge:
Plaintiff-Appellant Securities Administrator appeals the dismissal of its complaint to enjoin defendants’ sale of educational funding plans. The issue is whether the plans are investment contracts subject to registration as securities under the Guam Uniform Securities Act. We conclude that they are. We reverse.
In so deciding we hold that under the Guam Uniform Securities Act an investment contract is created whenever:
1. An offeree furnishes value to an offeror; and
2. a portion of the value is subjected to the risks of the enterprise; and
3. the furnishing of the…
2Cases cited33 opinions
- Securities and Exchange Commission v. W. J. Howey Co.Supreme Court of the United States · 1946
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- Securities & Exchange Commission v. C. M. Joiner Leasing Corp.Supreme Court of the United States · 1943
- International Brotherhood of Teamsters v. DanielSupreme Court of the United States · 1979
- Fed. Sec. L. Rep. P 93,748 Securities and Exchange Commission v. Glenn W. Turner Enterprises, Inc.Court of Appeals for the Ninth Circuit · 1973
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3Cited by2 opinions
- Securities Administrator v. College Assistance Plan (Guam), Inc.Court of Appeals for the Ninth Circuit · 1983
- Securities Administrator v. College Assistance Plan (Guam), Inc.Court of Appeals for the Ninth Circuit · 1983