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MARINE BANK v. WEAVER

No. 80-1562.

455 U.S. 551 (1982)

102 S.Ct. 1220

71 L.Ed.2d 409

MARINE BANK v. WEAVER ET UX.

Supreme Court of United States.

Decided March 8, 1982

Attorney(s) appearing for the Case

Daniel L. R. Miller argued the cause for petitioner. With him on the brief was Christine Hall McClure.

Andrew J. Conner argued the cause and filed a brief for respondents.*

Leonard I. Schreiber filed a brief for Myrna Ayala as amicus curiae urging affirmance.

CHIEF JUSTICE BURGER delivered the opinion of the Court.

We granted certiorari to decide whether two instruments, a conventional certificate of deposit and a business agreement between two families, could be considered securities under the antifraud provisions of the federal securities laws.

I

Respondents, Sam and Alice Weaver, purchased a $50,000 certificate of deposit from petitioner Marine Bank on February 28, 1978. The certificate of deposit...

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