howey test

Fetched 2026-10-26 (cache).

Datamuse reports no synonyms or antonyms for this word.

Proper noun

1. {{lb|en|legal}} A test to determine whether an [[instrument]] qualifies as an "[[investment]] [[contract]]" for the purposes of the {{w|Securities Act of 1933}}: it must be "a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party".

Source: Wiktionary · CC BY-SA 4.0 (Wiktionary dump) · cached copy, not a rewrite.