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LSDefine

Simple English definitions for legal terms

Bubble Act

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A quick definition of Bubble Act:

Term: BUBBLE ACT

Definition: The Bubble Act was a law made in England in 1720 to stop people from lying and cheating when they made companies. It was made to protect people from being tricked into giving their money to fake companies.

A more thorough explanation:

Definition: The Bubble Act was a law passed in England in 1720 to prevent fraudulent activities in corporations.

The Bubble Act was introduced after the South Sea Bubble, a financial scandal that involved the South Sea Company. The company was granted a monopoly to trade with South America, but it used its power to manipulate the stock market and defraud investors. The Bubble Act was created to prevent similar incidents from happening in the future.

Under the Bubble Act, any company with more than six shareholders was required to obtain a royal charter to operate legally. This made it difficult for fraudulent companies to operate, as they would not be able to obtain a charter.

For example, if a group of people wanted to start a company and sell shares to the public, they would need to obtain a charter from the king or queen. This would ensure that the company was legitimate and not a fraudulent scheme.

The Bubble Act was eventually repealed in 1825, as it was seen as a hindrance to economic growth. However, its legacy lives on in modern corporate law, which seeks to prevent fraudulent activities in companies.

bubble | bucketing

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noreaster
17:19
and it didn't do anything
noreaster
17:20
@cryptanon: and also the status checker has been broken for like two cycles
17:34
I'm 90% done with a full rewrite of LSD, it'll fix everything
[A] cryptanon
17:35
Also, has chat on Mobile been broken for long?
I definitely used chat on mobile in the past week with no problems
ParallelAgreeableOrangutan
17:44
Using chat on mobile now just to verify
17:55
ok good yass @jupitermoon fatfa lol
MrThickRopes
18:00
waves tmrw??
GUESS WHO JUST GOT INTO THE UOFU
18:09
hmm tough one
18:09
was it u
ParallelAgreeableOrangutan
18:13
WAS IT YOU??
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IT WAS ME
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[deleted by starfishies]
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Mostlylegal
18:29
Chat on mobile works fine i use it mostly on mobile
Mostlylegal
18:29
Also dk shutup quit wasting peoples time
[deleted by starfishies]
19:14
WOOOOO CONGRAT JUPITER
THANK YOU SLOTH WET KISSES ALL AROUND
19:32
yes YESSSS
schools need to pls just send me anything other that waitlists id take denials atp bc I only have two weeks until my only acceptances deposit deadline :<
starfishies
19:54
congrats jupiter!
ParallelAgreeableOrangutan
19:54
UofUforU!!!! huge congrats!
20:33
Hi everyone, has anyone experienced a lower LSAC GPA than their college GPA? I was dealing with mental health problems that caused me to withdrawal classes which is what will hurt my GPA, and it is discouraging me.
Did anyone else who visited UVA notice that their admissions staff smelled like stank fish ?
21:50
@StarCleoBug: Yes, my cumulative GPA by LSAC was 3.98 but the GPA they gave was 3.97. I guess it got weighted. I recommend a GPA addendum for your application. They usually give a preset bump if your addendum is found to be sufficient
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