Business law question: Life Partners, Inc. (LPI), facilitates the sale of life insurance policies?

[sylvester37]

that are owned by persons suffering from AIDS (acquired immune deficiency
syndrome) to investors at a discount. The investors pay LPI, and LPI pays the
policyholder. Typically, the policyholder, in turn, assigns the policy to LPI,
which also obtains the right to make LPI’s president the beneficiary of the
policy. On the policyholder’s death, LPI receives the proceeds of the policy
and pays the investor. In this way, the terminally ill sellers secure muchneeded
income in the final years of life, when employment is unlikely and
medical bills are often staggering. The SEC sought to enjoin (prevent) LPI
from engaging in further transactions on the ground that the investment
contracts were securities, which LPI had failed to register with the SEC in
violation of securities laws. Do the investment contracts meet the definition of
a security discussed in this chapter? Discuss fully.

[larenzo]

You'll need to type the entire chapter in here, because your question asks if it meets the definition in the CHAPTER.