VILLENEUVE v. ADVANCED BUSINESS CONCEPTS CORP.

No. 81-5975.

698 F.2d 1121 (1983)

Mark VILLENEUVE, individually and on behalf of all other persons similarly situated, Plaintiffs-Appellants, v. ADVANCED BUSINESS CONCEPTS CORPORATION, et al., Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

Opinion on Granting of Rehearing April 6, 1983.


Attorney(s) appearing for the Case

Carl H. Hoffman, Coral Gables, Fla., for plaintiffs-appellants.

Lanny E. Perkins, Dallas, Tex., Vernon W. Haas, Atty. pro se, Monterey, Cal., for defendants-appellees.

Before KRAVITCH, HATCHETT and CLARK, Circuit Judges.


Opinion on Granting of Rehearing En Banc April 6, 1983.

HATCHETT, Circuit Judge:

Under the unique facts of this case, we hold that an "area purchaser agreement," i.e., a distributorship, is not an investment contract which constitutes a "security" under the Securities Act of 1933 and the Securities Exchange Act of 1934. We affirm.

BACKGROUND

Advanced Business Concepts Corp. (ABC) offers to the general public, "area purchaser agreements,"...

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