nonlegal investment

nonlegal investment
An investment by a trustee which does not qualify as a legal investment. See legal investment.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • Nonlegal Investment — A security of sub investment quality made by a legal representative that does not conform to requirements of defined statutes. Nonlegal investments are typically securities that are not in compliance with statutory regulations for trust… …   Investment dictionary

  • Unauthorized Investment — Any investment that has not been specifically authorized by a legal trust. Unauthorized investments can technically meet statutory requirements for banks and trusts. However, they may still fail to meet the criteria of the grantor or trustee.… …   Investment dictionary

  • USURY — Biblical Law SOURCES If thou lend money to any of My people, even to the poor with thee, thou shalt not be to him as a creditor (nosheh), neither shall ye lay upon him interest (Ex. 22:24). And if thy brother be waxen poor and his means fail with …   Encyclopedia of Judaism

  • silent partner —    A nonlegal term for an investor in a business who takes no part in its management and is often unknown to customers or competitors. If the business is a limited partnership, each limited partner is prohibited from taking part in management and …   Business law dictionary

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