Legal Opinion
Villeneuve v. Advanced Business Concepts Corp.
Court of Appeals for the Eleventh Circuit
Decided February 22, 1983No. 81-5975PublishedCited by 16 opinions
1Opinion of the Court
HATCHETT, Circuit Judge:
Under the unique facts of this case, we hold that an “area purchaser agreement,” i.e., a distributorship, is not an investment contract which constitutes a “security” under the Securities Act of 1933 and the Securities Exchange Act of 1934. We affirm.
BACKGROUND
Advanced Business Concepts Corp. (ABC) offers to the general public, “area purchaser agreements,” i.e., distributorships for the sale of self-watering planters. ABC advertises in local newspapers and utilizes booths at various business opportunity shows. Through the use of advertisements, prospects are invited to…
2Cases cited11 opinions
- Poller v. Columbia Broadcasting System, Inc.Supreme Court of the United States · 1962
- 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
- Tcherepnin v. KnightSupreme Court of the United States · 1967
6 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Blue Sky L. Rep. P 73,254, Fed. Sec. L. Rep. P 95,264 T.J. Eberhardt v. James L. Waters, Lynda B. Waters, Dunwoody Medical Services, Inc.Court of Appeals for the Eleventh Circuit · 1990
- Securities & Exchange Commission v. Unique Financial Concepts, Inc.Court of Appeals for the Eleventh Circuit · 1999
- Jim Long v. Shultz Cattle Company, Incorporated, an Oklahoma Corporation, and William B. ShultzCourt of Appeals for the Fifth Circuit · 1989
- Revak v. SEC Realty Corp.Court of Appeals for the Second Circuit · 1994
- Revak v. SEC Realty Corp.Court of Appeals for the Second Circuit · 1994
11 more not listed; retrieve them via the Exa API.