Dictionary of Law
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blue sky laws :: legal definition


Blue sky laws - n. laws intended to protect the public from purchasing stock in fraudulent companies that lack substance, such as those selling swamp land, non-existent gold strikes and dry oil wells, or who have no assets besides a post office box. Blue sky laws require that corporations advertising and selling shares to the public must get approval from the state corporations commissioner and/or the Securities and Exchange Commission after providing details on financing and management. The term comes from the intent to prevent the existence of corporations that have nothing behind them but "blue sky."

See also: corporation stock and Related Law Terms ↓


Related Law Terms

articles of incorporation :: n. the basic charter of a corporation which spells ... year's taxes. See also: corporation
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
blue laws :: n. state or local laws which prohibit certain acti ... estiges remain at least informally.
bond :: n. 1) written evidence of debt issued by a company ... good up to the amount of the bond.
capital stock :: n. the original amount paid by investors into a co ... price. See also: corporation stock
cartel :: n. 1) an arrangement among supposedly independent ... Colombia. See also: antitrust laws
civil rights :: n. those rights guaranteed by the Bill of Rights, ... ill of Rights civil civil liberties
common stock :: n. stock in a corporation in which dividends (payo ... oration preferred stock share stock
corporation :: n. an organization formed with state governmental ... ation public corporation securities
dividend :: n. a portion of profit, usually based on the numbe ... . See also: corporation shareholder
franchise :: 1) n. a right granted by the government to a perso ... on property, income or profits tax.
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
issue :: 1) n. a person's children or other lineal descenda ... the body incorporation share stock
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
official misconduct :: n. improper and/or illegal acts by a public offici ... ty. See also: color of law official
preemptive right :: n. the right of a shareholder in a corporation to ... also: corporation shareholder stock
preferred stock :: n. a class of shares of stock in a corporation whi ... on stock corporation dividend stock
promotional stock :: n. stock issued in a newly formed corporation and ... assets or money. See also: promoter
prospectus :: n. a detailed statement by a corporation required ... rporation limited partnership stock
public domain :: n. 1) in copyright law, the right of anyone to use ... al governments. See also: copyright
publication :: n. 1) anything made public by print (as in a news- ... so: defamation libel notice slander
regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures.
securities :: n. generic term for shares of stock, bonds and deb ... ee also: bond debenture share stock
self-dealing :: n. in the stock market, using secret "inside" info ... ederal Securities and Exchange Act.
shareholder :: n. the owner of one or more shares of stock in a c ... : corporation shareholders' meeting
stock certificate :: n. printed document which states the name, incorpo ... . See also: corporation share stock
transfer agent :: n. a person or company retained by a corporation t ... stockbroker. See also: share stock
treasury stock :: n. stock of a private corporation which was issued ... be entitled. See also: share stock
ultra vires :: (uhl-trah veye-rehz) adj. Latin for "beyond powers ... it is issued. See also: corporation
unissued stock :: n. a corporation's shares of stock which are autho ... poration share stock treasury stock
watered stock :: n. shares of stock of a corporation which have bee ... . See also: corporation share stock

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - B

Bachelor of Laws :: n. the degree in law from a law school, abbreviate ... troactively. See also: Juris Doctor
back-to-back life sentences :: n. slang for consecutive life terms imposed by a j ... ther 25 years for a parole hearing.
bad debt :: n. an uncollectible debt. The problem is to determ ... ust no income on which to be taxed.
bad faith :: 1) n. intentional dishonest act by not fulfilling ... ean hands doctrine fraud good faith
bail :: 1) n. the money or bond put up to secure the relea ... bond bail bondsman own recognizance
bail bond :: n. a bond provided by an insurance company through ... urned. See also: bail bail bondsman
bail bondsman :: n. a professional agent for an insurance company w ... t to jail. See also: bail bail bond
bailee :: n. a person, also called a custodian, with whom so ... he goods. See also: bailment bailor
bailiff :: n. 1) a court official, usually a deputy sheriff, ... isdictional territory of a bailiff.
bailment :: n. 1) the act of placing property in the custody a ... "bailment." See also: bailee bailor
bailor :: n. a person who leaves goods in the custody of ano ... is found. See also: bailee bailment
bait and switch :: n. a dishonest sales practice in which a business ... rants the costs of a separate suit.
balance due :: n. the amount of a debt still owed on an account o ... cipal due without further interest.
balance sheet :: n. the statement of the assets and the liabilities ... ctivity and health of the business.
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bankruptcy court :: n. the specialized federal court in which bankrupt ... : bankruptcy bankruptcy proceedings
bankruptcy proceedings :: n. the bankruptcy procedure is: a) filing a petiti ... ankruptcy court claim in bankruptcy
bar :: 1) n. collectively all attorneys, as "the bar," wh ... a room, building, or real property.
bar association :: n. an organization of lawyers. There are two types ... oluntary organization of attorneys.