Article discusses the intent of the Securities Act of 1933 and Securities Exchange Act of 1934 and their various judicial interpretations. Article notes the judicial trend away from a literal reading where all securities would be covered by the acts but how the Second Circuit has been reluctant to stray from a literal interpretation of the acts despite a rejection from the United States Supreme Court.
An Overview of Promissory Notes Under the Federal Securities Laws,
6 Fordham Urb. L.J. 529
Available at: http://ir.lawnet.fordham.edu/ulj/vol6/iss3/5