Bob, Bill, and Tom buy a house as tenants in common and hire Trojan Management Company to manage the house and rent it out. Does this involve a securities transaction? why or why not?

Bill buys voting common shares of Trojan, Inc., a publicly traded company that owns horse farms throughout the United States. Does this involve a securities transaction? why or why not?

Bob has a part-time job at Trojan Bookstore. He is paid $10 per hour plus five percent of all profits of the bookstore during his shifts. Does this involve a securities transaction? why or why not?

Tom invests with four other people in a limited liability company, where each of the members has equal rights. Does this involve a securities transaction? why or why not?

Bill buys a condominium and obtains a mortgage from a bank and gives the bank a promissory note in which he promises to repay the loan over 30 years and the note is secured by the condominium. Does this involve a securities transaction? why or why not?