迁安教师招聘:这是篇美国证券法的案例(4),能帮我翻译一下么

来源:百度文库 编辑:高校问答 时间:2024/04/27 15:06:45
Each prospective customer is offered both a land sales contract and a service contract, after having been [***1248] told that it is not feasible to invest in a grove unless service arrangements are made. While the pur-chaser is free to make arrangements with other service companies, the superiority of Howey-in-the-Hills Service, Inc., is stressed. Indeed, 85% of the acreage sold dur-ing the 3-year period ending May 31, 1943, was covered by service contracts with Howey-in-the-Hills Service, Inc.
The land sales contract with the Howey Company provides for a uniform purchase price per acre or fraction thereof, varying in amount only in accordance with the number of years the particular plot has been planted with citrus trees. Upon full payment of the purchase price the land is conveyed to the purchaser by warranty deed. Purchases are usually made in narrow strips of land ar-ranged so that an acre consists of a row of 48 trees. During the period between February 1, 1941, and May 31, 1943, 31 of the 42 persons making purchases bought less than 5 acres each. The average holding of these 31 persons was 1.33 acres and sales of as little as 0.65, 0.7 and 0.73 of an acre were made. These tracts are not separately fenced and the sole indication of several own-ership is found in small land marks intelligible only through a plat book record.
[*296] The service contract, generally of a 10-year duration without option of cancellation, gives Howey-in-the-Hills Service, Inc., a leasehold interest and "full and complete" possession of the acreage. For a specified fee plus the cost of labor and materials, the company is given full discretion and authority over the cultivation of the groves and the harvest and marketing of the crops. The company is well established in the cit-rus business and maintains a large force of skilled per-sonnel and a great deal of equipment, including 75 trac-tors, sprayer wagons, fertilizer trucks and the like. Without the consent of the company, the land owner or purchaser has no right of entry to market the crop; n2 [**1102] thus there is ordinarily no right to specific fruit. The company is accountable only for an alloca-tion of the net profits based upon a check made at the time of picking. All the produce is pooled by the re-spondent companies, which do business under their own names.

各个潜在客户被提供土地销售合约和服务合约, [ * * * 1248 年] 以后告诉, 它不是可行的投资在树丛除非服务安排被做。 当采购员是自由做安排以其它服务公司, Howey 在这小山服务优势, 公司, 被注重。 的确, 85% 英亩卖了在3 年的期间结束5月31 日, 1943 年, 由服务合约包括用Howey 在这小山服务, 公司。
同Howey 的土地销售合约Company 提供一致的购买价每英亩或分数因此, 变化在数额只与几年符合的数量特殊剧情被种植了与柑橘树。 在购买价的充分的付款土地被转达对采购员被保单行为。 购买通常被做在土地窄条被安排以便一英亩包括48 棵树列。 在期间在2月1 日之间, 1941 年, 并且5月31 日, 1943 年, 31 42 个人做购买买了少于5 英亩各个。 这些31 个人平均藏品是1.33 英亩和销售一样少许象0.65, 0.7 和0.73 一英亩被做了。 这些短文分开地不被操刀并且单一征兆几归属被发现在小土地标记可理解只通过制地图书纪录。
[ * 296 ] 服务合约, 一般10 年的期间没有取消的选择, 给Howey 在这小山服务, 公司, 英亩的租赁的兴趣和"充分和完全" 财产。 为指定的费加上劳动成本和材料, 公司被给充分的谨慎和当局在树丛和收获的庄稼的耕种和行销。 公司是源远流长的在柑橘事务和维护熟练的人员和很多设备大规模兵力, 包括75 台拖拉机, 喷雾器无盖货车, 肥料卡车和等等。 没有公司的同意, 土地所有人或采购员没有词条权利销售庄稼; n2 [ * * 1102 年] 那里通常因而是没有权利对具体果子。 公司是只对净盈利的分派负有责任根据支票被做在采摘之时。 所有产物由应答者公司合并, 哪些做生意以他们自己的名字。

每一个可能的客户提供服务和销售合同土地合同后,1248年任,得知这不是一个可行的投资服务,除非葛洛夫安排. 虽然PUR--远没有安排与其他服务公司的优势Howey--记处,Inc强调. 事实上,85%的销售面积玻利维亚-ING三年期结束1943年5月31日,由服务合同Howey--记服务公司 土地交易合同的Howey公司统一规定的价格收购,每公顷或部分时,不同的只是数量根据多年的具体情节已种植柑桔树. 在全部货款的土地契约书,向买家. 通常在购买土地狭窄机铁片,从做一个有连续48亩树. 在2月1日期间,1941、1943年5月31日,31人的42亩购物买不到5元. 在这31人平均拥有1.33亩,不到销售0.65、0.7和0.73万亩的109%. 这些传单不是唯一指标,分别围了自己的土地,标志着小ership发现只有理解书中记录了主菜. *2960〕服务合同,一般在10年的时间没有办法取消,使Howey--记服务公司、租赁权益及"全面、彻底"的占有面积. 以特定费用和劳务成本加材料,由于该公司的管理权完全取决与Groves先生的种植和销售,收获的农作物. 该公司是公认的创新--俄罗斯企业和大批技术力量每sonnel和大量装备,包括75个核心的Tors,分别喷雾器、化肥、卡车等. 该公司同意,土地所有者或者无权进入买方市场的作物; N2,1102**,所以通常无权具体成果. 该公司只负责一个alloca任的净利润为基础上检查时发. 汇集了所有产品重新spondent公司、做生意,在自己的名字.