Legal Opinion · Dissent
Villeneuve v. Advanced Business Concepts Corp.
Court of Appeals for the Eleventh Circuit
Decided February 22, 1983No. 81-5975Published
1DissentKravitch, Circuit Judge
The majority reaches its decision by applying the “solely” test first enunciated by the Supreme Court in SEC v. W.J. Howey Co., 328 U.S. 293, 66 S.Ct. 1100, 90 L.Ed. 1244 (1946) in order to determine whether the scheme here at issue is an “investment contract” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Since its decision in SEC v. Koscot Interplanetary, Inc., 497 F.2d 473 (5th Cir.1974), however, the law of the former Fifth Circuit, and consequently this circuit, has been to apply a broader form of the Howey test, one that requires the…
2Cases cited11 opinions
- John D. Williamson, Plaintiffs-Appellants-Cross v. Gordon G. Tucker, Defendants-Appellees-CrossCourt of Appeals for the Fifth Circuit · 1981
- 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
- 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
- Fed. Sec. L. Rep. P 94,710 Securities and Exchange Commission v. Koscot Interplanetary, Inc.Court of Appeals for the Fifth Circuit · 1974
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