Task: sc_issue_8

What follows is an opinion from the Supreme Court of the United States. Your task is to determine the issue of the Court's decision. Determine the issue of the case on the basis of the Court's own statements as to what the case is about. Focus on the subject matter of the controversy rather than its legal basis.

Justice Powell
delivered the opinion of the Court.
This case presents the question whether the sale of all of the stock of a company is a securities transaction subject to the antifraud provisions of the federal securities laws (the Acts).
I
Respondents Ivan K. Landreth and his sons owned all of the outstanding stock of a lumber business they operated in Tonasket, Washington. The Landreth family offered their stock for sale through both Washington and out-of-state brokers. Before a purchaser was found, the company’s sawmill was heavily damaged by fire. Despite the fire, the brokers continued to offer the stock for sale. Potential purchasers were advised of the damage, but were told that the mill would be completely rebuilt and modernized.
Samuel Dennis, a Massachusetts tax attorney, received a letter offering the stock for sale. On the basis of the letter’s representations concerning the rebuilding plans, the predicted productivity of the mill, existing contracts, and expected profits, Dennis became interested in acquiring the stock. He talked to John Bolten, a former client who had retired to Florida, about joining him in investigating the offer. After having an audit and an inspection of the mill conducted, a stock purchase agreement was negotiated, with Dennis the purchaser of all of the common stock in the lumber company. Ivan Landreth agreed to stay on as a consultant for some time to help with the daily operations of the mill. Pursuant to the terms of the stock purchase agreement, Dennis assigned the stock he purchased to B & D Co., a corporation formed for the sole purpose of acquiring the lumber company stock. B & D then merged with the lumber company, forming petitioner Landreth Timber Co. Dennis and Bolten then acquired all of petitioner’s Class A stock, representing 85% of the equity, and six other investors together owned the Class B stock, representing the remaining 15% of the equity.
After the acquisition was completed, the mill did not live up to the purchasers’ expectations. Rebuilding costs exceeded earlier estimates, and new components turned out to be incompatible with existing equipment. Eventually, petitioner sold the mill at a loss and went into receivership. Petitioner then filed this suit seeking rescission of the sale of stock and $2,500,000 in damages, alleging that respondents had widely offered and then sold their stock without registering it as required by the Securities Act of 1933, 15 U. S. C. § 77a et seq. (1933 Act). Petitioner also alleged that respondents had negligently or intentionally made misrepresentations and had failed to state material facts as to the worth and prospects of the lumber company, all in violation of the Securities Exchange Act of 1934, 15 U. S. C. §78a et seq. (1934 Act).
Respondents moved for summary judgment on the ground that the transaction was not covered by the Acts because under the so-called “sale of business” doctrine, petitioner had not purchased a “security” within the meaning of those Acts. The District Court granted respondents’ motion and dismissed the complaint for want of federal jurisdiction. It acknowledged that the federal statutes include “stock” as one of the instruments constituting a “security,” and that the stock at issue possessed all of the characteristics of conventional stock. Nonetheless, it joined what it termed the “growing majority” of courts that had held that the federal securities laws do not apply to the sale of 100% of the stock of a closely held corporation. App. to Pet. for Cert. 13a. Relying on United Housing Foundation, Inc. v. Forman, 421 U. S. 837 (1975), and SEC v. W. J. Howey Co., 328 U. S. 293 (1946), the District Court ruled that the stock could not be considered a “security” unless the purchaser had entered into the transaction with the anticipation of earning profits derived from the efforts of others. Finding that managerial control of the business had passed into the hands of the purchasers, and thus that the transaction was a commercial venture rather than a typical investment, the District Court dismissed the complaint.
The United States Court of Appeals for the Ninth Circuit affirmed the District Court’s application of the sale of business doctrine. 731 F. 2d 1348 (1984). It agreed that it was bound by United Housing Foundation, Inc. v. Forman, supra, and SEC v. W. J. Howey Co., supra, to determine in every case whether the economic realities of the transaction indicated that the Acts applied. Because the Courts of Appeals are divided over the applicability of the federal securities laws when a business is sold by the transfer of 100% of its stock, we granted certiorari. 469 U. S. 1016 (1984). We now reverse.
II
It is axiomatic that “[t]he starting point in every case involving construction of a statute is the language itself.” Blue Chip Stamps v. Manor Drug Stores, 421 U. S. 723, 756 (1975) (Powell, J., concurring); accord, Teamsters v. Daniel, 439 U. S. 551, 558 (1979). Section 2(1) of the 1933 Act, 48 Stat. 74, as amended and as set forth in 15 U. S. C. § 77b(1), defines a “security” as including
“any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights,... or, in general, any interest or instrument commonly known as a ‘security,’ or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.”
As we have observed in the past, this definition is quite broad, Marine Bank v. Weaver, 455 U. S. 551, 556 (1982), and includes both instruments whose names alone carry well-settled meaning, as well as instruments of “more variable character [that] were necessarily designated by more descriptive terms,” such as “investment contract” and “instrument commonly known as a ‘security.’” SEC v. C. M. Joiner Leasing Corp., 320 U. S. 344, 351 (1943). The face of the definition shows that “stock” is considered to be a “security” within the meaning of the Acts. As we observed in United Housing Foundation, Inc. v. Forman, supra, most instruments bearing such a traditional title are likely to be covered by the definition. Id., at 850.
As we also recognized in Forman, the fact that instruments bear the label “stock” is not of itself sufficient to invoke the coverage of the Acts. Rather, we concluded that we must also determine whether those instruments possess “some of the significant characteristics typically associated with” stock, id., at 851, recognizing that when an instrument is both called “stock” and bears stock’s usual characteristics, “a purchaser justifiably [may] assume that the federal securities laws apply,” id., at 850. We identified those characteristics usually associated with common stock as (i) the right to receive dividends contingent upon an apportionment of profits; (ii) negotiability; (iii) the ability to be pledged or hypothecated; (iv) the conferring of voting rights in proportion to the number of shares owned; and (v) the capacity to appreciate in value. Id., at 851.
Under the facts of Forman, we concluded that the instruments at issue there were not “securities” within the meaning of the Acts. That case involved the sale of shares of stock entitling the purchaser to lease an apartment in a housing cooperative. The stock bore none of the characteristics listed above that are usually associated with traditional stock. Moreover, we concluded that under the circumstances, there was no likelihood that the purchasers had been misled by use of the word “stock” into thinking that the federal securities laws governed their purchases. The purchasers had intended to acquire low-cost subsidized living space for their personal use; no one was likely to have believed that he was purchasing investment securities. Ibid.
In contrast, it is undisputed that the stock involved here possesses all of the characteristics we identified in Forman as traditionally associated with common stock. Indeed, the District Court so found. App. to Pet. for Cert. 13a. Moreover, unlike in Forman, the context of the transaction involved here — the sale of stock in a corporation — is typical of the kind of context to which the Acts normally apply. It is thus much more likely here than in Forman that an investor would believe he was covered by the federal securities laws. Under the circumstances of this case, the plain meaning of the statutory definition mandates that the stock be treated as “securities” subject to the coverage of the Acts.
Reading the securities laws to apply to the sale of stock at issue here comports with Congress’ remedial purpose in enacting the legislation to protect investors by “compelling full and fair disclosure relative to the issuance of ‘the many types of instruments that in our commercial world fall within the ordinary concept of a security.’” SEC v. W. J. Howey Co., 328 U. S., at 299 (quoting H. R. Rep. No. 85, 73d Cong., 1st Sess., 11 (1933)). Although we recognize that Congress did not intend to provide a comprehensive federal remedy for all fraud, Marine Bank v. Weaver, supra, at 556, we think it would improperly narrow Congress’ broad definition of “security” to hold that the traditional stock at issue here falls outside the Acts’ coverage.
I — ( I — I
Under other circumstances, we might consider the statutory analysis outlined above to be a sufficient answer compelling judgment for petitioner. Respondents urge, however, that language in our previous opinions, including Forman, requires that we look beyond the label “stock” and the characteristics of the instruments involved to determine whether application of the Acts is mandated by the economic substance of the transaction.'Moreover, the Court of Appeals rejected the view that the plain meaning of the definition would be sufficient to hold this stock covered, because it saw “no principled way,” 731 F. 2d, at 1353, to justify treating notes, bonds, and other of the definitional categories differently. We address these concerns in turn.
A
It is fair to say that our cases have not been entirely clear on the proper method of analysis for determining when an instrument is a “security.” This Court has decided a number of cases in which it looked to the economic substance of the transaction, rather than just to its form, to determine whether the Acts applied. In SEC v. C. M. Joiner Leasing Corp., for example, the Court considered whether the 1933 Act applied to the sale of leasehold interests in land near a proposed oil well drilling. In holding that the leasehold interests were “securities,” the Court noted that “the reach of the Act does not stop with the obvious and commonplace.” 320 U. S., at 351. Rather, it ruled that unusual devices such as the leaseholds would also be covered “if it be proved as matter of fact that they were widely offered or dealt in under terms or courses of dealing which established their character in commerce as ‘investment contracts,’ or as ‘any interest or instrument commonly known as a ‘security.’” Ibid.
SEC v. W. J. Howey Co., supra, further elucidated the Joiner Court’s suggestion that an unusual instrument could be considered a “security” if the circumstances of the transaction so dictated. At issue in that case was an offering of units of a citrus grove development coupled with a contract for cultivating and marketing the fruit and remitting the proceeds to the investors. The Court held that the offering constituted an “investment contract” within the meaning of the 1933 Act because, looking at the economic realities, the transaction “involve[d] an investment of money in a common enterprise with profits to come solely from the efforts of others.” 328 U. S., at 301.
This so-called “Howey test” formed the basis for the second part of our decision in Forman, on which respondents primarily rely. As discussed above, see Part II, supra, the first part of our decision in Forman concluded that the instruments at issue, while they bore the traditional label “stock,” were not “securities” because they possessed none of the usual characteristics of stock. We then went on to address the argument that the instruments were “investment contracts.” Applying the Howey test, we concluded that the instruments likewise were not “securities” by virtue of being “investment contracts” because the economic realities of the transaction showed that the purchasers had parted with their money not for the purpose of reaping profits from the efforts of others, but for the purpose of purchasing a commodity for personal consumption. 421 U. S., at 858.
Respondents contend that Forman and the cases on which it was based require us to reject the view that the shares of stock at issue here may be considered “securities” because of their name and characteristics. Instead, they argue that our cases require us in every instance to look to the economic substance of the transaction to determine whether the Howey test has been met. According to respondents, it is clear that petitioner sought not to earn profits from the efforts of others, but to buy a company that it could manage and control. Petitioner was not a passive investor of the kind Congress intended the Acts to protect, but an active entrepreneur, who sought to “use or consume” the business purchased just as the purchasers in Forman sought to use the apartments they acquired after purchasing shares of stock. Thus, respondents urge that the Acts do not apply.
We disagree with respondents’ interpretation of our cases. First, it is important to understand the contexts within which these cases were decided. All of the cases on which respondents rely involved unusual instruments not easily characterized as “securities.” See n. 4, supra. Thus, if the Acts were to apply in those cases at all, it would have to have been because the economic reality underlying the transactions indicated that the instruments were actually of a type that falls within the usual concept of a security. In the case at bar, in contrast, the instrument involved is traditional stock, plainly within the statutory definition. There is no need here, as there was in the prior cases, to look beyond the characteristics of the instrument to determine whether the Acts apply.
Contrary to respondents’ implication, the Court has never foreclosed the possibility that stock could be found to be a “security” simply because it is what it purports to be. In SEC v. C. M. Joiner Leasing Corp., 320 U. S. 344 (1943), the Court noted: “[W]e do nothing to the words of the Act; we merely accept them.... In some cases, [proving that the documents were securities] might be done by proving the document itself, which on its face would be a note, a bond, or a share of stock.” Id., at 355. Nor does Forman require a different result. Respondents are correct that in Forman we eschewed a “literal” approach that would invoke the Acts’ coverage simply because the instrument carried the label “stock.” Forman does not, however, eliminate the Court’s ability to hold that an instrument is covered when its characteristics bear out the label. See supra, at 686-687.
Second, we would note that the Howey economic reality test was designed to determine whether a particular instrument is an “investment contract,” not whether it fits within any of the examples listed in the statutory definition of “security.” Our cases are consistent with this view. Teamsters v. Daniel, 439 U. S., at 558 (appropriate to turn to the Howey test to “determine whether a particular financial relationship constitutes an investment contract”); United Housing Foundation, Inc. v. Forman, 421 U. S. 837 (1975); see supra, at 689. Moreover, applying the Howey test to traditional stock and all other types of instruments listed in the statutory definition would make the Acts’ enumeration of many types of instruments superfluous. Golden v. GaraFalo, 678 F. 2d 1139, 1144 (CA2 1982). See Tcherepnin v. Knight, 389 U. S. 332, 343 (1967).
Finally, we cannot agree with respondents that the Acts were intended to cover only “passive investors” and not privately negotiated transactions involving the transfer of control to “entrepreneurs.” The 1934 Act contains several provisions specifically governing tender offers, disclosure of transactions by corporate officers and principal stockholders, and the recovery of short-swing profits gained by such persons. See, e. g., 1934 Act, §§ 14, 16, 15 U. S. C. §§ 78n, 78p. Eliminating from the definition of “security” instruments involved in transactions where control passed to the purchaser would contravene the purposes of these provisions. Accord, Daily v. Morgan, 701 F. 2d 496, 503 (CA5 1983). Furthermore, although §4(2) of the 1933 Act, 15 U. S. C. §77d(2), exempts transactions not involving any public offering from the Act’s registration provisions, there is no comparable exemption from the antifraud provisions. Thus, the structure and language of the Acts refute respondents’ position.
B
We now turn to the Court of Appeals’ concern that treating stock as a specific category of “security” provable by its characteristics means that other categories listed in the statutory definition, such as notes, must be treated the same way. Although we do not decide whether coverage of notes or other instruments may be provable by their name and characteristics, we do point out several reasons why we think stock may be distinguishable from most if not all of the other categories listed in the Acts’ definition.
Instruments that bear both the name and all of the usual characteristics of stock seem to us to be the clearest case for coverage by the plain language of the definition. First, traditional stock “represents to many people, both trained and untrained in business matters, the paradigm of a security.” Daily v. Morgan, sUpra, at 500. Thus persons trading in traditional stock likely have a high expectation that their activities are governed by the Acts. Second, as we made clear in Forman, “stock” is relatively easy to identify because it lends itself to consistent definition. See supra, at 686. Unlike some instruments, therefore, traditional stock is more susceptible of a plain meaning approach.
Professor Loss has agreed that stock is different from the other categories of instruments. He observes that it “goes against the grain” to apply the Howey test for determining whether an instrument is an “investment contract” to traditional stock. L. Loss, Fundamentals of Securities Regulation 211-212 (1988). As Professor Loss explains:
“It is one thing to say that the typical cooperative apartment dweller has bought a home, not a security; or that not every installment purchase ‘note’ is a security; or that a person who charges a restaurant meal by signing his credit card slip is not selling a security even though his signature is an ‘evidence of indebtedness.’ But stock (except for the residential wrinkle) is so quintessential a security as to foreclose further analysis.” Id., at 212 (emphasis in original).
We recognize that in SEC v. C. M. Joiner Leasing Corp., 320 U. S. 344 (1943), the Court equated “notes” and “bonds” with “stock” as categories listed in the statutory definition that were standardized enough to rest on their names. Id., at 355. Nonetheless, in Forman, we characterized Joiner’s, language as dictum. 421 U. S., at 850. As we recently suggested in a different context in Securities Industry Assn. v. Board of Governors, FRS, 468 U. S. 137 (1984), “note” may now be viewed as a relatively broad term that encompasses instruments with widely varying characteristics, depending on whether issued in a consumer context, as commercial paper,

Question: What is the issue of the decision?
年. involuntary confession
数. habeas corpus
日. plea bargaining: the constitutionality of and/or the circumstances of its exercise
的. retroactivity (of newly announced or newly enacted constitutional or statutory rights)
月. search and seizure (other than as pertains to vehicles or Crime Control Act)
用. search and seizure, vehicles
成. search and seizure, Crime Control Act
名. contempt of court or congress
时. self-incrimination (other than as pertains to Miranda or immunity from prosecution)
件. Miranda warnings
一. self-incrimination, immunity from prosecution
请. right to counsel (cf. indigents appointment of counsel or inadequate representation)
中. cruel and unusual punishment, death penalty (cf. extra legal jury influence, death penalty)
据. cruel and unusual punishment, non-death penalty (cf. liability, civil rights acts)
码. line-up
不. discovery and inspection (in the context of criminal litigation only, otherwise Freedom of Information Act and related federal or state statutes or regulations)
新. double jeopardy
文. ex post facto (state)
下. extra-legal jury influences: miscellaneous
分. extra-legal jury influences: prejudicial statements or evidence
入. extra-legal jury influences: contact with jurors outside courtroom
人. extra-legal jury influences: jury instructions (not necessarily in criminal cases)
功. extra-legal jury influences: voir dire (not necessarily a criminal case)
上. extra-legal jury influences: prison garb or appearance
户. extra-legal jury influences: jurors and death penalty (cf. cruel and unusual punishment)
为. extra-legal jury influences: pretrial publicity
间. confrontation (right to confront accuser, call and cross-examine witnesses)
号. subconstitutional fair procedure: confession of error
取. subconstitutional fair procedure: conspiracy (cf. Federal Rules of Criminal Procedure: conspiracy)
回. subconstitutional fair procedure: entrapment
在. subconstitutional fair procedure: exhaustion of remedies
页. subconstitutional fair procedure: fugitive from justice
字. subconstitutional fair procedure: presentation, admissibility, or sufficiency of evidence (not necessarily a criminal case)
有. subconstitutional fair procedure: stay of execution
个. subconstitutional fair procedure: timeliness
作. subconstitutional fair procedure: miscellaneous
示. Federal Rules of Criminal Procedure
出. statutory construction of criminal laws: assault
是. statutory construction of criminal laws: bank robbery
失. statutory construction of criminal laws: conspiracy (cf. subconstitutional fair procedure: conspiracy)
表. statutory construction of criminal laws: escape from custody
除. statutory construction of criminal laws: false statements (cf. statutory construction of criminal laws: perjury)
加. statutory construction of criminal laws: financial (other than in fraud or internal revenue)
败. statutory construction of criminal laws: firearms
生. statutory construction of criminal laws: fraud
信. statutory construction of criminal laws: gambling
类. statutory construction of criminal laws: Hobbs Act; i.e., 18 USC 1951
置. statutory construction of criminal laws: immigration (cf. immigration and naturalization)
理. statutory construction of criminal laws: internal revenue (cf. Federal Taxation)
本. statutory construction of criminal laws: Mann Act and related statutes
息. statutory construction of criminal laws: narcotics includes regulation and prohibition of alcohol
行. statutory construction of criminal laws: obstruction of justice
定. statutory construction of criminal laws: perjury (other than as pertains to statutory construction of criminal laws: false statements)
改. statutory construction of criminal laws: Travel Act, 18 USC 1952
市. statutory construction of criminal laws: war crimes
期. statutory construction of criminal laws: sentencing guidelines
以. statutory construction of criminal laws: miscellaneous
修. jury trial (right to, as distinct from extra-legal jury influences)
元. speedy trial
方. miscellaneous criminal procedure (cf. due process, prisoners' rights, comity: criminal procedure)
录. voting
区. Voting Rights Act of 1965, plus amendments
单. ballot access (of candidates and political parties)
位. desegregation (other than as pertains to school desegregation, employment discrimination, and affirmative action)
型. desegregation, schools
法. employment discrimination: on basis of race, age, religion, illegitimacy, national origin, or working conditions.
县. affirmative action
存. slavery or indenture
品. sit-in demonstrations (protests against racial discrimination in places of public accommodation)
前. reapportionment: other than plans governed by the Voting Rights Act
称. debtors' rights
注. deportation (cf. immigration and naturalization)
值. employability of aliens (cf. immigration and naturalization)
输. sex discrimination (excluding sex discrimination in employment)
建. sex discrimination in employment (cf. sex discrimination)
能. Indians (other than pertains to state jurisdiction over)
大. Indians, state jurisdiction over
例. juveniles (cf. rights of illegitimates)
度. poverty law, constitutional
始. poverty law, statutory: welfare benefits, typically under some Social Security Act provision.
到. illegitimates, rights of (cf. juveniles): typically inheritance and survivor's benefits, and paternity suits
面. handicapped, rights of: under Rehabilitation, Americans with Disabilities Act, and related statutes
载. residency requirements: durational, plus discrimination against nonresidents
点. military: draftee, or person subject to induction
密. military: active duty
动. military: veteran
果. immigration and naturalization: permanent residence
图. immigration and naturalization: citizenship
提. immigration and naturalization: loss of citizenship, denaturalization
发. immigration and naturalization: access to public education
式. immigration and naturalization: welfare benefits
国. immigration and naturalization: miscellaneous
登. indigents: appointment of counsel (cf. right to counsel)
错. indigents: inadequate representation by counsel (cf. right to counsel)
者. indigents: payment of fine
认. indigents: costs or filing fees
误. indigents: U.S. Supreme Court docketing fee
接. indigents: transcript
关. indigents: assistance of psychiatrist
重. indigents: miscellaneous
第. liability, civil rights acts (cf. liability, governmental and liability, nongovernmental; cruel and unusual punishment, non-death penalty)
地. miscellaneous civil rights (cf. comity: civil rights)
如. First Amendment, miscellaneous (cf. comity: First Amendment)
设. commercial speech, excluding attorneys
目. libel, defamation: defamation of public officials and public and private persons
开. libel, privacy: true and false light invasions of privacy
事. legislative investigations: concerning internal security only
可. federal or state internal security legislation: Smith, Internal Security, and related federal statutes
要. loyalty oath or non-Communist affidavit (other than bar applicants, government employees, political party, or teacher)
代. loyalty oath: bar applicants (cf. admission to bar, state or federal or U.S. Supreme Court)
小. loyalty oath: government employees
选. loyalty oath: political party
标. loyalty oath: teachers
明. security risks: denial of benefits or dismissal of employees for reasons other than failure to meet loyalty oath requirements
编. conscientious objectors (cf. military draftee or military active duty) to military service
求. campaign spending (cf. governmental corruption):
列. protest demonstrations (other than as pertains to sit-in demonstrations): demonstrations and other forms of protest based on First Amendment guarantees
网. free exercise of religion
万. establishment of religion (other than as pertains to parochiaid:)
最. parochiaid: government aid to religious schools, or religious requirements in public schools
器. obscenity, state (cf. comity: privacy): including the regulation of sexually explicit material under the 21st Amendment
所. obscenity, federal
内. due process: miscellaneous (cf. loyalty oath), the residual code
体. due process: hearing or notice (other than as pertains to government employees or prisoners' rights)
通. due process: hearing, government employees
务. due process: prisoners' rights and defendants' rights
此. due process: impartial decision maker
商. due process: jurisdiction (jurisdiction over non-resident litigants)
序. due process: takings clause, or other non-constitutional governmental taking of property
化. privacy (cf. libel, comity: privacy)
消. abortion: including contraceptives
否. right to die
保. Freedom of Information Act and related federal or state statutes or regulations
使. attorneys' and governmental employees' or officials' fees or compensation or licenses
次. commercial speech, attorneys (cf. commercial speech)
机. admission to a state or federal bar, disbarment, and attorney discipline (cf. loyalty oath: bar applicants)
对. admission to, or disbarment from, Bar of the U.S. Supreme Court
量. arbitration (in the context of labor-management or employer-employee relations) (cf. arbitration)
查. union antitrust: legality of anticompetitive union activity
部. union or closed shop: includes agency shop litigation
性. Fair Labor Standards Act
和. Occupational Safety and Health Act
更. union-union member dispute (except as pertains to union or closed shop)
后. labor-management disputes: bargaining
证. labor-management disputes: employee discharge
题. labor-management disputes: distribution of union literature
确. labor-management disputes: representative election
格. labor-management disputes: antistrike injunction
了. labor-management disputes: jurisdictional dispute
于. labor-management disputes: right to organize
金. labor-management disputes: picketing
公. labor-management disputes: secondary activity
午. labor-management disputes: no-strike clause
円. labor-management disputes: union representatives
片. labor-management disputes: union trust funds (cf. ERISA)
空. labor-management disputes: working conditions
态. labor-management disputes: miscellaneous dispute
管. miscellaneous union
主. antitrust (except in the context of mergers and union antitrust)
天. mergers
自. bankruptcy (except in the context of priority of federal fiscal claims)
我. sufficiency of evidence: typically in the context of a jury's determination of compensation for injury or death
全. election of remedies: legal remedies available to injured persons or things
今. liability, governmental: tort or contract actions by or against government or governmental officials other than defense of criminal actions brought under a civil rights action.
来. liability, other than as in sufficiency of evidence, election of remedies, punitive damages
正. liability, punitive damages
说. Employee Retirement Income Security Act (cf. union trust funds)
意. state or local government tax
送. state and territorial land claims
容. state or local government regulation, especially of business (cf. federal pre-emption of state court jurisdiction, federal pre-emption of state legislation or regulation)
已. federal or state regulation of securities
结. natural resources - environmental protection (cf. national supremacy: natural resources, national supremacy: pollution)
会. corruption, governmental or governmental regulation of other than as in campaign spending
段. zoning: constitutionality of such ordinances, or restrictions on owners' or lessors' use of real property
计. arbitration (other than as pertains to labor-management or employer-employee relations (cf. union arbitration)
源. federal or state consumer protection: typically under the Truth in Lending; Food, Drug and Cosmetic; and Consumer Protection Credit Acts
色. patents and copyrights: patent
時. patents and copyrights: copyright
交. patents and copyrights: trademark
系. patents and copyrights: patentability of computer processes
过. federal or state regulation of transportation regulation: railroad
电. federal and some few state regulations of transportation regulation: boat
询. federal and some few state regulation of transportation regulation:truck, or motor carrier
符. federal and some few state regulation of transportation regulation: pipeline (cf. federal public utilities regulation: gas pipeline)
未. federal and some few state regulation of transportation regulation: airline
程. federal and some few state regulation of public utilities regulation: electric power
常. federal and some few state regulation of public utilities regulation: nuclear power
条. federal and some few state regulation of public utilities regulation: oil producer
当. federal and some few state regulation of public utilities regulation: gas producer
情. federal and some few state regulation of public utilities regulation: gas pipeline (cf. federal transportation regulation: pipeline)
口. federal and some few state regulation of public utilities regulation: radio and television (cf. cable television)
合. federal and some few state regulation of public utilities regulation: cable television (cf. radio and television)
车. federal and some few state regulations of public utilities regulation: telephone or telegraph company
实. miscellaneous economic regulation
组. comity: civil rights
版. comity: criminal procedure
周. comity: First Amendment
址. comity: habeas corpus
记. comity: military
二. comity: obscenity
同. comity: privacy
业. comity: miscellaneous
权. comity primarily removal cases, civil procedure (cf. comity, criminal and First Amendment); deference to foreign judicial tribunals
其. assessment of costs or damages: as part of a court order
进. Federal Rules of Civil Procedure including Supreme Court Rules, application of the Federal Rules of Evidence, Federal Rules of Appellate Procedure in civil litigation, Circuit Court Rules, and state rules and admiralty rules
试. judicial review of administrative agency's or administrative official's actions and procedures
验. mootness (cf. standing to sue: live dispute)
料. venue
传. no merits: writ improvidently granted
述. no merits: dismissed or affirmed for want of a substantial or properly presented federal question, or a nonsuit
集. no merits: dismissed or affirmed for want of jurisdiction (cf. judicial administration: Supreme Court jurisdiction or authority on appeal from federal district courts or courts of appeals)
多. no merits: adequate non-federal grounds for decision
无. no merits: remand to determine basis of state or federal court decision (cf. judicial administration: state law)
员. no merits: miscellaneous
报. standing to sue: adversary parties
他. standing to sue: direct injury
無. standing to sue: legal injury
服. standing to sue: personal injury
线. standing to sue: justiciable question
这. standing to sue: live dispute
制. standing to sue: parens patriae standing
将. standing to sue: statutory standing
处. standing to sue: private or implied cause of action
高. standing to sue: taxpayer's suit
子. standing to sue: miscellaneous
道. judicial administration: jurisdiction or authority of federal district courts or territorial courts
章. judicial administration: jurisdiction or authority of federal courts of appeals
手. judicial administration: Supreme Court jurisdiction or authority on appeal or writ of error, from federal district courts or courts of appeals (cf. 753)
库. judicial administration: Supreme Court jurisdiction or authority on appeal or writ of error, from highest state court
三. judicial administration: jurisdiction or authority of the Court of Claims
从. judicial administration: Supreme Court's original jurisdiction
支. judicial administration: review of non-final order
家. judicial administration: change in state law (cf. no merits: remand to determine basis of state court decision)
长. judicial administration: federal question (cf. no merits: dismissed for want of a substantial or properly presented federal question)
付. judicial administration: ancillary or pendent jurisdiction
秒. judicial administration: extraordinary relief (e.g., mandamus, injunction)
路. judicial administration: certification (cf. objection to reason for denial of certiorari or appeal)
完. judicial administration: resolution of circuit conflict, or conflict between or among other courts
象. judicial administration: objection to reason for denial of certiorari or appeal
则. judicial administration: collateral estoppel or res judicata
现. judicial administration: interpleader
京. judicial administration: untimely filing
转. judicial administration: Act of State doctrine
辑. judicial administration: miscellaneous
限. Supreme Court's certiorari, writ of error, or appeals jurisdiction
力. miscellaneous judicial power, especially diversity jurisdiction
学. federal-state ownership dispute (cf. Submerged Lands Act)
外. federal pre-emption of state court jurisdiction
调. federal pre-emption of state legislation or regulation. cf. state regulation of business. rarely involves union activity. Does not involve constitutional interpretation unless the Court says it does.
项. Submerged Lands Act (cf. federal-state ownership dispute)
北. national supremacy: commodities
工. national supremacy: intergovernmental tax immunity
笑. national supremacy: marital and family relationships and property, including obligation of child support
监. national supremacy: natural resources (cf. natural resources - environmental protection)
任. national supremacy: pollution, air or water (cf. natural resources - environmental protection)
相. national supremacy: public utilities (cf. federal public utilities regulation)
微. national supremacy: state tax (cf. state tax)
册. national supremacy: miscellaneous
联. miscellaneous federalism
平. boundary dispute between states
增. non-real property dispute between states
听. miscellaneous interstate relations conflict
解. incorporation of foreign territories
等. federal taxation, typically under provisions of the Internal Revenue Code
得. federal taxation of gifts, personal, business, or professional expenses
收. priority of federal fiscal claims: over those of the states or private entities
安. miscellaneous federal taxation (cf. national supremacy: state tax)
价. legislative veto
藏. executive authority vis-a-vis congress or the states
命. miscellaneous
应. real property
看. personal property
索. contracts
资. evidence
产. civil procedure
串. torts
布. wills and trusts
原. commercial transactions
Answer:

Answer: 已