What does BUBBLE ACT mean?

BUBBLE ACT meaning in Law Dictionary

The statute 6 Geo. I. c. 18, "for restraining several extravagant and unwarrantable methods herein talked about," ended up being so called. It recommended charges when it comes to formation of companies with little to no or no money, aided by the objective, in the form of alluring ads, of acquiring money from the public because of the sale of shares. Such undertakings had been after that frequently called "bubbles." This legislation had been encouraged because of the failure of "Southern water Project," which, as Blackstone says, "had oeggared half the world." It had been mainly repealed by the statute 6 Geo. IV. c. 91.