JURISPRUDENCE BEGINNING WITH U Sample Clauses

JURISPRUDENCE BEGINNING WITH U. S. V. XXXXX In the landmark decision United States v. X.X. Xxxxx,93 the United States Supreme Court defined “investment contract.”94 The seller of the securities, X.X. 89 69A AM. JUR. 2D Securities Regulation—State § 1 (2004). Kansas was the first state to regulate its securities market. Id. By the time Congress passed the federal securities acts, forty-seven other states had followed Kansas’ lead. Id. The purpose of the state blue sky laws was “to stop the sale of stock in fly-by-night concerns, visionary oil xxxxx, distant gold mines, and…‘speculative schemes which have no more basis than so many feet of blue sky.’” Id. (quoting Hall x. Xxxxxx-Xxxxx Co., 242 U.S. 539 (1917)). 90Howey, 328 U.S. at 298, provides: The term “investment contract”…was common in many state “blue sky” laws in existence prior to the adoption of the federal statute and, although the term was also undefined by the state laws, it had been broadly construed by state courts so as to afford the investing public a full measure of protection. 91 SEC v. X.X. Xxxxxx Leasing Corp., 320 U.S. 344, 351 (1943) (holding that “the reach of the Act does not stop with the obvious and commonplace. Novel, uncommon, or irregular devices, whatever they appear to be, are also reached”). Courts have found a wide variety of unique investment schemes to constitute securities. See, e.g., SEC x. Xxxxxxx, 540 U.S. 389 (2004) (pay phones); Xxxxxx v. J.W.K. Props., Inc., 904 F.2d 918, 919 (4th Cir. 1990) (cattle breeding); Xxxxxx v. Cent. Chinchilla Group, Inc., 494 F.2d 414, 415 (8th Cir. 1974) (chinchillas); Cont’l Mktg. Corp. v. SEC, 387 F.2d 466 (10th Cir. 1967) (xxxxxxx); Xxx x. United States, 287 F.2d 435 (5th Cir. 1961) (mineral leases); Penfield Co. v. SEC, 143 F.2d 746, 747 (9th Cir. 1944) (whiskey bottling contracts); SEC v. Crude Oil Corp., 93 F.2d 844 (7th Cir. 1937) (crude oil sales contracts). 92 United Hous. Found., Inc. x. Xxxxxx, 421 U.S. 837, 848 (1975) (explaining that “[t]he task has fallen…to the federal courts to decide which of the myriad financial transactions in our society come within the coverage of [the Securities Acts]”). 93328 U.S. 293 (1946). 94 Id. at 301. The Court first interpreted the Securities Acts ten years after their being passed. Xxxxxx Leasing, 320 U.S. at 344. In Xxxxxx, the Court held that the proper test to determine the existence of a security “is what character the instrument is given in commerce by the terms of the offer, the plan of Xxxxx Company (Xxxxx), operate...
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to JURISPRUDENCE BEGINNING WITH U

  • Required Beginning Date The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s required beginning date.

  • Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.

  • Happen After We Receive Your Letter When we receive your letter, we must do two things:

  • What Will Happen After We Receive Your Letter When we receive your letter, we must do two things:

  • BEGINNING TEACHERS definition Beginning teachers meet the Teaching Council criteria for provisional certification as a teacher. Beginning Teachers work under the guidance of others. They undertake “advice and guidance” programmes to assist in the development of the competencies required for full certification.

  • Happen After We Receive Your Letter When we receive your letter, we must do two things:

  • Puts Within 30 Days After Bank Closing During the thirty (30)-day period following Bank Closing and only during such period (which thirty (30)-day period may be extended in writing in the sole absolute discretion of the Receiver for any Loan), in accordance with this Section 3.4, the Assuming Institution shall be entitled to require the Receiver to purchase any Deposit Secured Loan transferred to the Assuming Institution pursuant to Section

  • Submitting Loop Makeup Service Inquiries 2.9.2.1 C.M. may obtain LMU information by submitting a mechanized LMU query or a Manual LMUSI. Mechanized LMUs should be submitted through BellSouth's OSS interfaces. After obtaining the Loop information from the mechanized LMU process, if C.M. needs further Loop information in order to determine Loop service capability, C.M. may initiate a separate Manual Service Inquiry for a separate nonrecurring charge as set forth in Exhibit A of this Attachment.

  • When Your Coverage Begins Your coverage will begin on the first day of the month following your eligibility date as long as we receive required enrollment information within the first thirty (30) days following your eligibility date and the premium is paid. If you or your dependents fail to enroll at this time, you cannot enroll in the plan unless you do so through an Open Enrollment Period or a Special Enrollment Period.

  • NOTICE TO EMPLOYEES REGARDING THE FEDERAL EARNED INCOME CREDIT The Contractor shall notify its employees, and shall require each subcontractor to notify its employees, that they may be eligible for the Federal Earned Income Credit under the federal income tax laws. Such notice shall be provided in accordance with the requirements set forth in Internal Revenue Service Notice No. 1015.

Time is Money Join Law Insider Premium to draft better contracts faster.