Brent Has Opened a Fruit and Vegetable Business Named Brent's

question 54

Essay

Brent has opened a fruit and vegetable business named Brent's Country Stand near an affluent suburban neighborhood.After six months Brent wishes to raise capital for expansion,so he offers a number of his customers the following deal: If the individual gives Brent $10,000,Brent will provide a promissory note,payable in five years with full repayment of the principal and a 10 percent interest rate of return.Brent's Country Stand is the maker of the notes,and about 10 customers have purchased these notes.Do these promissory notes qualify as securities? Why or why not?

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