Securities Act of 1933 (finance) and Reasonable Person (law)

Securities Act of 1933 (finance)

First law designed to regulate securities markets, requiring registration of securities and disclosure.

Reasonable Person (law)

a person who acts with common sense and who has the mental capacity of an average, normal, sensible human being. The reasonable person criterion requires that the assumptions and ideas upon which a defendant acted must have been reasonable, in that the circumstances as they appeared to the defendant would have created the same beliefs in the mind of an ordinary person.

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