This Note will discuss the inquiries encompassed by the "possibility of abuse" test. It will also evaluate whether the test is properly employed only in determining that an unorthodox transaction is or is not a "purchase" or "sale" or whether the test could better be used as a threshold inquiry in all cases.
Michigan Law Review,
Insider Liability for Short-Swing Profits: The Substance and Function of the Pragmatic Approach,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol72/iss3/5