Identify and State the Historical Significance of the Following

question 42

Short Answer

Identify and state the historical significance of the following:
-Taft-Hartley Act

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Definitions:

Securities Exchange Act

A U.S. federal law enacted in 1934 to govern the trading of securities, such as stocks and bonds, in the secondary market, aiming to promote transparency, fairness, and integrity in the marketplaces.

SEC Rule 10b-5

A regulation by the Securities and Exchange Commission that prohibits fraud and misrepresentation in securities trading.

Privity

A doctrine in contract law that holds that contracts are private agreements between the parties who have mutually consented to them, and thus, only those parties have the rights and liabilities under the contract.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to harm or damage.