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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A scheme met all investment-contract elements when offered, but the venture later failed and paid no profit. The promoter argues the later failure proves no security ever existed. Which answer is correct?

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Actual payment replaces every other element The expectation and economic arrangement at offer are not erased merely by later business failure Every failed venture is automatically outside the securities definition Only profitable frauds can involve securities

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