Section 2

Citation: Section 2
Parent Document: United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
Jurisdiction: United States (federal)
Effective Date: 1975-10-06
Original Source: https://www.courtlistener.com/opinion/109272/united-housing-foundation-inc-v-forman/ ↗

Other Sections in This Document (195)

United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975)
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In making this determination in the present case we do not write on a clean slate. Well-settled principles enunciated by this Court establish that the shares purchased by respondents do not represent any of the "countless and variable schemes devised by those who seek the use of the money of others on the promise of profits," Howey, 328 U. S., at 299, and therefore do not fall within "the ordinary concept of a security." A