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Caveat Emptor and Selling Stocks: Mr. Thompkins Comes to Town

In: The Kansas Blue Sky Act of 1911

Author

Listed:
  • David Ress

    (University of New England)

Abstract

There were no effective legal remedies against the promoters of dubious share offerings, just as for most American commerce there were no remedies for disappointed buyers because most American judges’ adherence to the caveat emptor doctrine was so firm—firmer than in the English courts in which the concept first arose. Rural Kansans, used to a different model of commerce, and where judges were more skeptical of caveat emptor, felt especially victimized by stock promoters and Kansas Banking Commissioner Joseph N. Dolley would tap into those sentiments with his Blue Sky Act.

Suggested Citation

  • David Ress, 2023. "Caveat Emptor and Selling Stocks: Mr. Thompkins Comes to Town," Springer Books, in: The Kansas Blue Sky Act of 1911, chapter 0, pages 29-42, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-43831-8_3
    DOI: 10.1007/978-3-031-43831-8_3
    as

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