Pennsylvania  |  Business Law

Legal Question

Asked on: 10/17/13, 5:50 pm

Pierre loaned his sister Patti 2,500 so that she could start a gymnastics coaching business. Pierre told Patti to pay him back whenever she could, with no interest. Patti wrote out an "IOU" to Pierre evidencing the loan. Does Pierre own a security in this instance? Why or why not?

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