Howey test (English, name)
expansion: the Howey test
Senses:
topics: law
glosses: A test to determine whether an instrument qualifies as an "investment contract" for the purposes of the Securities Act of 1933: it must be "a contract, transaction 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".
Forms:
form: the Howey test
tags: canonical