Trust Indenture Act. A federal law, enacted in 1939, designed to protect investors of certain types of bonds by requiring that (1) the SEC approve the trust indenture, (2) the indenture include certain protective clauses and exclude certain exculpatory clauses, and (3) the trustees be independent of the issuing company.15 USCA §§ 77aaa et seq. […]
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administrative adjudication. The process used by an administrative agency to issue regulations through an adversary proceeding. Cf. RULEMAKING. [Cases: Administrative Law and Procedure 441–513. C.J.S. Public Administrative Law and Procedure §§ 87, 115–171.]
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material information. Securities. Information that would be important to a reasonable investor in making an investment decision. • In the context of an “efficient” market, materiality translates into information that alters the price of a firm’s stock. Securities Exchange Act of 1934 § 10(b), 15 USCA § 78j(b); 17 CFR § 240.10b-5. [Cases: Securities Regulation
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A security (usu. a bond or preferred stock) that may be exchanged by the owner for another security, esp. common stock from the same company, and usu. at a fixed price on a specified date. — Also termed (specif.) convertible debt; convertible stock. [Cases: Securities Regulation 53.16(10).]
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A trademark that identifies a company, a division of a company, or a company’s product line as the source of a product or service. • A house mark and a product mark often appear together on a label. — Also termed house mark. Cf. product trademark. [Cases: Trade Regulation 27. C.J.S. Trade-Marks, Trade-Names, and Unfair
blurring, n. Trademarks. A form of dilution in which goodwill in a famous mark is eroded through the mark’s unauthorized use by others on or in connection with dissimilar products or services. • Blurring is one type of dilution that is actionable under the Federal Trademark Dilution Act, 15 USCA § 1125(c) (the court found
Surface Transportation Board. A unit in the U.S. Department of Transportation responsible for the economic regulation of interstate surface transportation, primarily railroads. • Its jurisdiction includes railroad-rate and -service issues, railroad-company mergers and related labor matters; certain truck and ocean shipping rates; certain intercity bus-company structures; and certain pipeline matters not regulated by the Federal
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scienter (sI-en-t[schwa]r or see-), n. [Latin “knowingly”] 1. A degree of knowledge that makes a person legally responsible for the consequences of his or her act or omission; the fact of an act’s having been done knowingly, esp. as a ground for civil damages or criminal punishment. See KNOWLEDGE; MENS REA . [Cases: Criminal Law
cash-and-carry clause. Int’l law. A regulation that, before U.S. involvement in World War II, allowed belligerent countries to pay cash for goods whose export was prohibited. • Formally, this regulation was entirely neutral, but in practice it favored Great Britain.
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peer-review organization. A government agency that monitors health-regulation compliance by private hospitals requesting public funds (such as Medicare payments). — Abbr. PRO. [Cases: Health 270.]
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