查人人中国名人网嘟嘟和熊二图片:这是篇美国证券法的案例（2），能帮我翻译一下么
来源：百度文库 编辑：查人人中国名人网 时间：2024/05/02 18:15:35
1. Upon the facts of this case, an offering of units of a citrus grove development coupled with a contract for cultivating, marketing and remitting the net proceeds to the investor, was an offering of an "investment contract" within the meaning of that term as used in the provision of § 2 (1) of the Securities Act of 1933 defining "secu-rity" as including any "investment contract," and was therefore subject to the registration requirements of the Act. Pp. 294-297, 299.
2. For purposes of the Securities Act, an investment contract (undefined by the Act) means a contract, trans-action or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party, it being immaterial whether the shares in the enterprise are evi-denced by formal certificates or by nominal interests in the physical assets employed in the enterprise. Pp. 298-299.
3. The fact that some purchasers, by declining to en-ter into the service contract, chose not to accept the offer of the investment contract in its entirety, does not require a different result, since the Securities Act prohibits the offer as well as the sale of unregistered, nonexempt se-curities. P. 300.
4. The test of whether there is an "investment con-tract" under the Securities Act is whether the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others; and, if that test be satisfied, it is immaterial whether the en-terprise is speculative or non-speculative or whether there is a sale of property with or without intrinsic value. P. 301.
5. The policy of the Securities Act of affording broad protection to investors is not to be thwarted by unrealistic and irrelevant formulae. P. 301.
COUNSEL:
Roger S. Foster argued the cause for petitioner. With him on the brief were Solicitor General McGrath, Robert S. Rubin and Alexander Cohen.
C. E. Duncan and George C. Bedell argued the cause and filed a brief for respondents.
JUDGES:
Stone, Black, Reed, Frankfurter, Douglas, Murphy, Rutledge, Burton; Jackson took no part in the considera-tion or decision of this case.
OPINIONBY:
MURPHY
OPINION:
[*294] [**1101] [***1247] MR. JUSTICE MURPHY delivered the opinion of the Court.
[***HR1] This case involves the application of § 2 (1) of the Securities Act of 1933 n1 to an offering of units of a citrus grove development coupled with a con-tract for cultivating, marketing and remitting the net proceeds to the investor.
n1 48 Stat. 74, 15 U. S. C. § 77b (1).
教学大纲:
1. 在这个案件事实, 提供柑橘树丛发展的单位被结合与一个合同为耕种, 营销和宽恕网收益对投资者, 依照被使用是提供一个"投资合同" 在那个期限之内的意思在供应. 2 (1) 证券法案1933 年定义"安全" 和包括任一个"投资合同,"并且是因此依于行动的注册要求。 页。 294-297, 299.
2. 为证券法案的目的, 投资合同(由法案未定义) 意味一个合同, 交易或计划藉以人在共同的企业中投资他的金钱和被带领单一地期望赢利从促进者或第三方的努力, 它是非物质的是否份额在企业中由有名无实的兴趣见证由正式证明或在实物资产在企业中被使用。 页。 298-299 。
3. 事实一些采购员, 由拒绝输入
教学大纲:
1. 在这个案件事实, 提供柑橘树丛发展的单位被结合与一个合同为耕种, 营销和宽恕网收益对投资者, 依照被使用是提供一个"投资合同" 在那个期限之内的意思在供应. 2 (1) 证券法案1933 年定义"安全" 和包括任一个"投资合同,"并且是因此依于行动的注册要求。 页。 294-297, 299.
2. 为证券法案的目的, 投资合同(由法案未定义) 意味一个合同, 交易或计划藉以人在共同的企业中投资他的金钱和被带领单一地期望赢利从促进者或第三方的努力, 它是非物质的是否份额在企业中由有名无实的兴趣见证由正式证明或在实物资产在企业中被使用。 页。 298-299 。
3. 事实一些采购员, 由拒绝输入服务合约, 选择不接受投资合同的提议在它的全部, 不要求一个另外结果, 因为证券法案以及销售禁止提议未登记, nonexempt 证券。 P 。 300.
4. 测试是否有"投资合同" 在证券行动之下是是否计划在共同的企业中介入金钱的投资以赢利单一地来自其他人的努力; 并且, 如果那个测试是满意, 它是非物质的是否企业是投机或非投机的或是否有物产销售有或没有固有值。 P 。 301.
5. 买得起宽广的保护证券法案的政策对投资者不是由不切实际和毫不相关的惯例反对。 P 。 301.
忠告:
Roger S 。 孵育争论了起因为请愿。 以他在摘要是讨生意者McGrath 将军, 罗伯特S 。 Rubin 和亚历山大・Cohen 。
C 。 E 。 Duncan 和乔治C 。 Bedell 争论了起因和归档了一份摘要为应答者。
法官:
石头, 黑色, 芦苇, 烟熏腊肠, 道格拉斯, 墨菲, Rutledge, Burton; 杰克逊没有做出这个案件部份在考虑或决定。
OPINIONBY:
墨菲
观点:
[ * 294 ] [ * * 1101 年] [ * * * 1247 年] 先生。 正义墨菲发表了法院的意见。
[ * * * HR1 ] 这个案件介入. 2 (1) 的应用1933 n1 证券行动对提供柑橘树丛发展的单位被结合以一个合同为耕种, 营销和宽恕网收益对投资者。
n1 48 Stat 。 74, 15 U 。 S 。 C 。 . 77b (1) 。