The Supreme Court uses the family resemblance test developed in Reves v.Ernst & Young to determine whether:

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In 1990,the Supreme Court adopted the family resemblance test from Reves v.Ernst & Young to determine whether promissory notes were securities.The Supreme Court held that it is inappropriate to apply the Howey test to notes.Instead,applying the family resemblance test,the Court held that notes are presumed to be securities unless they bear a "strong family resemblance" to a type of note that is not a security.

The Supreme Court Uses the Family Resemblance Test Developed in Reves