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Simple English definitions for legal terms

blue sky laws

Read a random definition: free and common socage

A quick definition of blue sky laws:

Blue sky laws are rules that protect people from buying stock in fake companies that don't have anything valuable, like land or gold. These laws say that companies that want to sell stock to the public have to get permission from the government and give information about their money and leaders. The name "blue sky" comes from the idea that some companies are just selling nothing but air.

A more thorough explanation:

Definition: Blue sky laws are laws that protect people from buying stocks in companies that are fraudulent and lack substance. These companies may sell things like swamp land, non-existent gold strikes, or dry oil wells. Blue sky laws require that companies get approval from the state corporations commissioner and/or the Securities and Exchange Commission before selling shares to the public. The company must provide details on financing and management to get this approval. The term "blue sky" comes from the idea of preventing companies that have nothing behind them but "blue sky."

One example of a company that might be stopped by blue sky laws is a company that claims to have found a gold mine, but has no evidence to back up their claim. Another example is a company that sells land that is actually a swamp, but claims it is valuable property. These companies might try to sell shares to the public, but blue sky laws would prevent them from doing so without proper approval.

Blue sky laws are important because they protect people from investing in companies that are not legitimate. Without these laws, people could lose their money by investing in companies that have no real value or assets. By requiring companies to provide details on financing and management, blue sky laws help ensure that companies are legitimate and have something to offer investors.

blue laws | booby trap

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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