Union National Bank v. Farmers Bank’s Empirical Analysis
786 F.2d 881 · 1986
Citation profile
18 federal appellate · 5 state decisions
How this case has been cited
Cited by 37 later decisions — most recently January 2015 · most notably Schaefer v. Arkansas Medical Society (1988), Washington v. Union Carbide Corp. (1989)
18 federal appellate · 5 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Applies 15 U.S.C. § 77B (§ 2 of the Securities Act of 1933) · 15 U.S.C. § 78C (§ 3 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78J (§ 10 of the Securities Exchange Act of 1934)
Relies on Anderson v. City of Bessemer City · Securities & Exchange Commission v. W. J. Howey Co. · Rosado v. Wyman · United Housing Foundation, Inc. v. Forman · Tcherepnin v. Knight
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 37 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“(1) the investment of money or money's worth; (2) investment in a venture; (3) the expectation of some benefit to the investor as a result of the investment; (4) contribution towards the risk capital of the venture; and (5) the absence of direct control over the investment or policy decisions concerning the venture.”
2 later decisions quote this exact passage · from the majority“[t]he duty of disclosure ... arises where one person is in [a] position to have and to exercise influence over another who reposes confidence in him whether a fiduciary relationship in the strict sense of the term exists between them or not.”
2 later decisions quote this exact passage · from the majority“The Howey test defines a security as (1) an investment (2) in a common venture (3) with a reasonable expectation of profits (4) to be derived from the entrepreneurial or managerial efforts of others.”
2 later decisions quote this exact passage · from the majority
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.