BUL 3320 Chapter Notes - Chapter 40: Tender Offer, Commercial Paper, Chief Operating Officer
Document Summary
Investment contract any investment of 25709/ property made in expectation of receiving a financial return solely from the effort of others group agreement where you pay money and get something in return (shared fashion) Basic rule for public offering of non-exempt securities, the issuer must file registration statement, disclosing accurate, material info, unless offering is an exempt tranaction. Fundamental requirement before you sell a stock/bond you must file a registration statement w/ the gov. Exempt securities include short term commercial paper, municipal bonds, securities of some banks and non-profit organizations and certain insurance policies and annuity contract. Important question do i have to register ( exempt transactions exempt securities) Unregistered sales sec 12(a)(1) imposes absolute civil liability as there are no defense. You are sold stock by a comp that are suppose to file then they are liable ( you can keep resend the transaction)
