An Investment Contract

An investment contract:

A) is a public offer by a bidder to purchase a target company's equity securities directly from its shareholders at a specified price for a fixed period of time.
B) regulates the sale of securities while they are passing from the hands of the issuer into the hands of the public investors.
C) may be defined as an investment of money in a common enterprise with an expectation of profits from the efforts of others.
D) is a type of securities exemption that need not be registered,regardless of who sells the securities,how they are sold,or to whom they are sold.