Question

In Securities and Exchange Commission v. Edwards, the court analyzed the definition of a security and concluded:
A.An investment contract, by definition, cannot be considered a security.
B.A security may feature either a fixed or variable rate of return.
C.A security is an investment of money in a common enterprise with variable rate profits to come solely from the efforts of others.
D.A contractual entitlement to a fixed return cannot be considered a security.

Answer

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