SEC V. W.J. Howey Co.
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SEC V. W.J. Howey Co.
''Securities and Exchange Commission v. W. J. Howey Co.'', 328 U.S. 293 (1946), was a case in which the Supreme Court of the United States held that the offer of a land sales and service contract was an "investment contract" within the meaning of the Securities Act of 1933 () and that the use of the mails and interstate commerce in the offer and sale of these securities was a violation of §5 of the Act, .. It was an important case in determining the general applicability of the federal securities laws. The case resulted in a test, known as the Howey test, to determine whether an instrument qualifies as an "investment contract" for the purposes of the Securities Act: "a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party." Facts The defendants, W. J. Howey Co. and Howey-in-the-Hills Service, Inc., were corporations organized under the laws of the state of ...
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Lawyers' Edition
The ''United States Supreme Court Reports, Lawyers' Edition'', or ''Lawyers' Edition'' (L. Ed. and L. Ed. 2d in case citations) is an unofficial reporter of Supreme Court of the United States opinions. The ''Lawyers' Edition'' was established by the Lawyers Cooperative Publishing Company of Rochester, New York in 1882, and features coverage of Supreme Court decisions going back to 1790. The first ''Lawyers' Edition'' series corresponds to the official ''United States Reports'' from volume 1 to volume 351, whereas the second series contains cases starting from the official reporter volume 352. It is currently published by LexisNexis. The ''Lawyers' Edition'' differs from the official reporter in that the editors write headnotes and case summaries, as well as provide annotations to some cases, and decisions are published far in advance of the official reporter. As such, it is similar to West's unofficial ''Supreme Court Reporter'' (S. Ct.). ''Lawyers' Edition'' case reports dif ...
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William John Howey
William John Howey (January 19, 1876 – June 7, 1938) was an American real-estate developer, citrus grower and Republican politician from Florida. He founded and served as mayor for the town of Howey-in-the-Hills, Florida. He developed and sold citrus groves, becoming one of Florida's greatest citrus developers. He opened Florida's first citrus juice plant. He ran twice for governor. A former home near Lake Wales, Florida became the site of Florida's Bok Tower at the Bok Tower Gardens. Early life Howey was born in Odin, Illinois on January 19, 1876. His father was United Brethren minister named William Henry Howey. His mother was Mathilda Harris Howey. He attended the public schools. At age 16, he became a life insurance salesman. Sometime around 1900, he developed real estate in Oklahoma. He briefly tried manufacturing automobiles in Kansas City, but returned to real estate in 1905. He sold pineapple plantations near Perez, Mexico until the political situation became unfavor ...
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Lawsuit
- A lawsuit is a proceeding by a party or parties against another in the civil court of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used in reference to a civil action brought by a plaintiff (a party who claims to have incurred loss as a result of a defendant's actions) requests a legal remedy or equitable remedy from a court. The defendant is required to respond to the plaintiff's complaint. If the plaintiff is successful, judgment is in the plaintiff's favor, and a variety of court orders may be issued to enforce a right, award damages, or impose a temporary or permanent injunction to prevent an act or compel an act. A declaratory judgment may be issued to prevent future legal disputes. A lawsuit may involve dispute resolution of private law issues between individuals, business entities or non-profit organizations. A lawsuit may also enable the state to be treated as if it were a private party ...
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Securities And Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual re ...
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SEC Filing
The SEC filing is a financial statement or other formal document submitted to the U.S. Securities and Exchange Commission (SEC). Public companies, certain insiders, and broker-dealers are required to make regular SEC filings. Investors and financial professionals rely on these filings for information about companies they are evaluating for investment purposes. Many, but not all SEC filings are available online through the SEC's EDGAR (Electronic Data Gathering, Analysis, and Retrieval) database. Common filing types The most commonly filed SEC forms are the 10-K and the 10-Q. These forms are composed of four main sections: The business section, the F-pages, the Risk Factors, and the MD&A. The business section provides an overview of the Company. The F-pages contain the financial statements which are either audited or reviewed by an independent auditor. The Risk Factors contain a list of all of the potential risks that exist for the company. While the MD&A contains a narrativ ...
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Agriculture
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. After gathering wild grains beginning at least 105,000 years ago, nascent farmers began to plant them around 11,500 years ago. Sheep, goats, pigs and cattle were domesticated over 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. Industrial agriculture based on large-scale monoculture in the twentieth century came to dominate agricultural output, though about 2 billion people still depended on subsistence agriculture. The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials (such as rubber). Food classes include cereals (grains), vegetables, fruits, cooking oils, meat, milk, ...
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Farmer
A farmer is a person engaged in agriculture, raising living organisms for food or raw materials. The term usually applies to people who do some combination of raising field crops, orchards, vineyards, poultry, or other livestock. A farmer might own the farm land or might work as a laborer on land owned by others. In most developed economies, a "farmer" is usually a farm owner (landowner), while employees of the farm are known as ''farm workers'' (or farmhands). However, in other older definitions a farmer was a person who promotes or improves the growth of plants, land or crops or raises animals (as livestock or fish) by labor and attention. Over half a billion farmers are smallholders, most of whom are in developing countries, and who economically support almost two billion people. Globally, women constitute more than 40% of agricultural employees. History Farming dates back as far as the Neolithic, being one of the defining characteristics of that era. By the Bronze Age, th ...
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Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refrigerator and other kitchen facilities, upholstered chairs, a flat screen television, and En-suite, en-suite bathrooms. Small, lower-priced hotels may offer only the most basic guest services and facilities. Larger, higher-priced hotels may provide additional guest facilities such as a swimming pool, business centre (with computers, printers, and other office equipment), childcare, conference and event facilities, tennis or basketball courts, gymnasium, restaurants, day spa, and social function services. Hotel rooms are usually Room number, numbered (or named in some smaller hotels and Bed and breakfast, B&Bs) to allow guests to identify their room. Some boutique, high-end hotels have custom decorated rooms. Some hotels offer meals as part ...
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Resort
A resort (North American English) is a self-contained commercial establishment that tries to provide most of a vacationer's wants, such as food, drink, swimming, lodging, sports, entertainment, and shopping, on the premises. The term ''resort'' may be used for a hotel property that provides an array of amenities, typically including entertainment and recreational activities. A hotel is frequently a central feature of a resort, such as the Grand Hotel at Mackinac Island, Michigan. Some resorts are also condominium complexes that are timeshares or owned fractionally or wholly owned condominium. A resort is not always a commercial establishment operated by a single company, but in the late 20th century, that sort of facility became more common. In British English, "resort" means a town which people visit for holidays and days out which usually contains hotels at which such holidaymakers stay. Examples would include Blackpool and Brighton. Destination resort A destinatio ...
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Right Of Entry
Right of entry refers to one's right to take or resume possession of land, or the right of a person to go onto another's real property without committing trespass. It also refers to a grantor's power to retake real estate from a grantee in the case of a fee simple subject to condition subsequent {{Property law A defeasible estate is created when a grantor transfers land conditionally. Upon the happening of the event or condition stated by the grantor, the transfer may be void or at least subject to annulment. (An estate not subject to such .... {{DEFAULTSORT:Right Of Entry Real property law ...
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Warranty Deed
A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate. A ''general'' warranty deed protects the grantee against title defects arising at any point in time, extending back to the property's origins. A ''special'' warranty deed protects the grantee only against title defects arising from the actions or omissions of the grantor. Covenants for title A warranty deed can include six traditional forms of covenants for title, sometimes known as the English covenants of title. Those six traditional forms of covenants can be broken down into two categories: ''present covenants'' and ''future covenants''. *Present covenants **''Covenant of seisin'': "A covenant of seisin or good right to convey." **''Covenant of right to convey'': Covenants that repres ...
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Acre
The acre is a unit of land area used in the imperial Imperial is that which relates to an empire, emperor, or imperialism. Imperial or The Imperial may also refer to: Places United States * Imperial, California * Imperial, Missouri * Imperial, Nebraska * Imperial, Pennsylvania * Imperial, Texa ... and United States customary units#Units of area, US customary systems. It is traditionally defined as the area of one Chain (unit), chain by one furlong (66 by 660 feet), which is exactly equal to 10 square chains, of a square mile, 4,840 square yards, or 43,560 square feet, and approximately 4,047 m2, or about 40% of a hectare. Based upon the International yard and pound, international yard and pound agreement of 1959, an acre may be declared as exactly 4,046.8564224 square metres. The acre is sometimes abbreviated ac but is usually spelled out as the word "acre".National Institute of Standards and Technolog(n.d.) General Tables of Units of Measurement . Traditionally, i ...
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