Legal Opinion
Richard R. Wals and Sandra L. Wals v. Fox Hills Development Corporation and Grey Hound Real Estate Finance Company
Court of Appeals for the Seventh Circuit
Decided May 23, 1994No. 93-3118PublishedCited by 23 opinions
1Opinion of the Court
POSNER, Chief Judge.
The district judge rebuffed the plaintiffs’ effort to characterize a condominium time-sharing purchase and rental agreement as an investment contract subject to the Securities Act of 1933. 15 U.S.C. § 77b(1); 828 F.Supp. 623 (E.D.Wis.1993). We must decide whether he was right to do so. In 1990 the plaintiffs bought “week 5” of an apartment in the Fox Hills Golf Villas Condominium outside of Manitowoc, Wisconsin, from the developer (the principal defendant in this case) and at the same time entered into a “flexible time” agreement with the developer under which the…
2Cases cited20 opinions
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- Landreth Timber Co. v. LandrethSupreme Court of the United States · 1985
- Marine Bank v. WeaverSupreme Court of the United States · 1982
- Fed. Sec. L. Rep. P 94,710 Securities and Exchange Commission v. Koscot Interplanetary, Inc.Court of Appeals for the Fifth Circuit · 1974
- Fed. Sec. L. Rep. P 93,355 Ella Milnarik v. M-S Commodities, Inc., an Illinois Corporation, and David S. NelsonCourt of Appeals for the Seventh Circuit · 1972
15 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Teague v. BakkerCourt of Appeals for the Fourth Circuit · 1994
- De Wit v. Firstar Corp.District Court, N.D. Iowa · 1995
- King v. PopeTennessee Supreme Court · 2002
- Securities and Exchange Commission v. John D. Lauer and Clifton Capital Investors L.P.Court of Appeals for the Seventh Circuit · 1995
- Jacqueline Goldberg v. 401 N. Wabash Venture, L.L.C.Court of Appeals for the Seventh Circuit · 2014
18 more not listed; retrieve them via the Exa API.