Securities and Exchange Commission v. W. J. Howey Company

Securities and Exchange Commission v. W. J. Howey Company by Frank Murphy Syllabus

related portals: Supreme Court of the United States. 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, 15 U.S.C. 77b, 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, 15 U.S.C. 77e. It was an important case in determining the general applicability of the federal securities laws. — Excerpted from Securities and Exchange Commission v. W. J. Howey Co. on Wikipedia, the free encyclopedia.

United States Supreme Court

328 U.S. 293

SECURITIES AND EXCHANGE COMMISSION  v.  W. J. HOWEY COMPANY

 Argued: May 2, 1946. --- Decided: May 27, 1946

See 67 S.Ct. 27.

Mr. Roger S. Foster, of Philadelphia, Pa., for petitioner.

Messrs. C. E. Duncan, of Tavares, Fla., and George C. Bedell, of Jacksonville, Fla., for respondents.

Mr. Justice MURPHY delivered the opinion of the Court.

Notes

This work is in the public domain in the United States because it is a work of the United States federal government (see 17 U.S.C. 105).