Blue-skylaw

1 definition found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Blue-skylaw \Blue"-sky"law`\
     A law enacted to provide for the regulation and supervision
     of investment companies in order to protect the public
     against companies that do not intend to do a fair and honest
     business and that offer investments that do not promise a
     fair return; -- so called because the promises made by some


     investment companies are as boundless or alluring as the blue
     sky, or, perhaps, because designed to clear away the clouds
     and fogs from the simple investor's horizon. [Colloq.]
     [Webster 1913 Suppl.]