Skip to main content
DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Section 2

Citation
Section 2
Parent Document
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
Effective Date
1975-10-06

Other Sections in This Document (195)

Full Text

496 chars
In holding that the name given to an instrument is not dispositive, we do not suggest that the name is wholly irrelevant to the decision whether it is a security. There may be occasions when the use of a traditional name such as “stocks” or “bonds” will lead a purchaser justifiably to assume that the federal securities laws apply. *851This would clearly be the case when the underlying transaction embodies some of the significant characteristics typically associated with the named instrument.