In SEC V. Howey, the Supreme Court

In SEC v. Howey, the Supreme Court:

A) defined a security as an investment of money in an enterprise with the expectations of profits earned by the efforts of the investor
B) was concerned with penalizing a case of fraud of investors in a large stock scam; it resulted in federal securities legislation being passed
C) held all "for profit" investments to be subject to securities regulation
D) held the sale of plots of land on a development to be a security
E) none of the other choices

Correct Answer:

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