Interests or instruments that are expressly mentioned in securities acts are known as ________.

Question

Quizplus · Accepted Answer

Statutorily defined securities are those that are explicitly mentioned in securities acts, such as stocks, bonds, and options. Common securities and investment contracts are generic terms that may be used to refer to various types of securities, but they are not explicitly defined by statute. Implicit securities are securities that are not clearly defined by statute, but that may be considered securities based on the facts and circumstances of a particular transaction.

Interests or Instruments That Are Expressly Mentioned in Securities Acts