Law Dictionary Definitions

board. 1. A group of persons having managerial, supervisory, or advisory powers <board of directors>. • In parliamentary law, a board is a form of deliberative assembly and is distinct from a committee — which is usu. subordinate to a board or other deliberative assembly — in having greater autonomy and authority. 2. Daily meals…

BMI.abbr. BROADCAST MUSIC, INC. [Blacks Law 8th]

bluewater seaman.See able-bodied seaman under SEAMAN. BLURRING 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…

blue-sky law.A state statute establishing standards for offering and selling securities, the purpose being to protect citizens from investing in fraudulent schemes or unsuitable companies. [Cases: Securities Regulation  248–273. C.J.S. Securities Regulation §§ 3, 374–376, 379–411, 414.] “Although the public is probably more aware of the existence and operation of the several federal statutes administered…

blue-sky,vb. To approve (the sale of securities) in accordance with blue-sky laws <the company’s IPO has not yet been blue-skyed>. blue-sky,adj. (Of a security) having little value.[Blacks Law 8th]

blue-ribbon jury.See JURY.[Blacks Law 8th]

blue-pencil test.A judicial standard for deciding whether to invalidate the whole contract or only the offending words. • Under this standard, only the offending words are invalidated if it would be possible to delete them simply by running a blue pencil through them, as opposed to changing, adding, or rearranging words. [Cases: Contracts  137. C.J.S.…

Blue List.Securities. A daily listing (on blue paper) of secondary-market offerings of municipal bonds. “Municipal bonds available for resale in the secondary market are listed by state in The Blue List, along with such information as the number of bonds offered, issuer, maturity date, coupon rate, price, and dealer making the offering. Ratings are not…

blue law.A statute regulating or prohibiting commercial activity on Sundays. • Although blue laws were formerly common, they have declined since the 1980s, when many courts held them invalid because of their origin in religion (i.e., Sunday being the Christian Sabbath). Blue laws usu. pass constitutional challenge if they are enacted to support a nonreligious…

blue chip,n. A corporate stock that is considered a safe investment because the corporation has a history of stability, consistent growth, and reliable earnings. — Also termed blue-chip stock.— blue-chip,adj.[Blacks Law 8th]