Interested in buying condominium there as investment

Reference no: EM132097462

Gerald Hocking visited Hawaii and became interested in buying a condominium there as an investment. Maylee Dubois, who was a licensed real estate broker in Hawaii and an employee of Vitousik Realtors Inc. agreed to help Hocking find a suitable unit. Dubois found a condominium unit owned by Tovik Liberman that was for sale. The unit was located in a resort complex developed by Aetna Life Insurance Co. and managed by Hotel Corporation of Hawaii. Aetna and Hotel Corporation offered purchasers of condominiums in the resort the opportunity to participate in a rental pool agreement. Under the agreement, the net rental income from all the participating condominiums would be collected in one account during the course of the year and then divided among the condominium owners based upon their ownership interest. Hocking entered the arrangement, but was disappointed by the return on his investment. He sued Aetna and Hotel Corporation claiming that his ownership interest was a security and he should have received a prospectus prior to the sale of the interest. Is his ownership interest a security under the Howey Test? Explain.

Reference no: EM132097462

Questions Cloud

Demonstrate knowledge and understanding of the concept : Medicare Advantage, Qualified Health Plans, and Medicaid Managed Care Organizations are often interchangeably confused with one another.

Evaluate the professional interpretation of the testing : Review the MMP1-2-RF Police Candidate Interpretive Reports for Mr. C. and Ms. D. and evaluate the professional interpretation of this testing and assessment.

High profile projects convene simultaneously : What steps do you use to prioritize work assignments when several high profile projects convene simultaneously?

Identify and implement risk management process : Identify and implement a risk management process for this case.

Interested in buying condominium there as investment : Gerald Hocking visited Hawaii and became interested in buying a condominium there as an investment.

Analyze the concept of patients rights : From the scenario, analyze the concept of patients' rights, and ascertain the key concerns of physicians and nurses as they apply to patients with AIDS.

Discuss what is meant by humble behaviorism : Describe one of the areas you feel OBM can contribute the most to in the field of OD and why. Discuss what is meant by "humble behaviorism," as referenced.

Major incident in terms of crisis intervention : If you were a Federal Coordinating Officer (FCO) in charge of a response effort to a major incident in terms of crisis intervention how would you respond.

Discuss team identity : Discuss team identity. Why do you feel attached to certain groups and teams but not to others?

User Account

All Pages