The Legal Lexicographer, Bouvier, defines investments & securities as:
TO INVEST, contracts.
- To lay out money in such a manner that it may bring a revenue; as, to invest money in houses or stocks; to give possession.
- This word, which occurs frequently in the canon law, comes from the Latin word investire, which signifies to clothe or adorn and is used, in that system of jurisprudence, synonymously with enfeoff. Both words signify to put one into the possession of, or to invest with a fief, upon his taking the oath of fealty or fidelity to the prince or superior lord.
- The act of giving possession of lands by actual seisin When livery of seisin was made to a person by the common law he was invested with the whole fee; this, the foreign feudists and sometimes our own law writers call investiture, but generally speaking, it is termed by the common law writers, the seisin of the fee. Bl. Com. 209, 313; Feame on Rem. 223, n. (z).
- By the canon law investiture was made per baculum et annulum, by the ring and crosier, which were regarded as symbols of the episcopal jurisdiction. Ecclesiastical and secular fiefs were governed by the same rule in this respect that previously to investiture, neither a bishop, abbey or lay lord could take possession of a fief. conferred upon them previously to investiture by the prince.
- Pope Gregory VI. first disputed the right of sovereigns to give investiture of ecclesiastical fiefs, A. D. 1045, but Pope Gregory VII. carried. on the dispute with much more vigor, A. D. 1073. He excommunicated the emperor, Henry IV. The Popes Victor III., Urban II. and Paul II., continued the contest. This dispute, it is said, cost Christendom sixty-three battles, and the lives of many millions of men. De Pradt.
- To protect, insure, or save a right.
- The constitution of the United States, art. 1, s. 8, gives power to congress "to promote the progress of science and the useful arts by securing, for limited times, to authors and inventors the exclusive right to their respective writings and discoveries." The inventor of a machine has the right to it exclusively at common law, and the author a right to his manuscript. But they may abandon the, right by publishing the book without having secured a copyright, (q.v.) or by using publicly the machine, and suffering others to use it, without having obtained a patent. (q.v.) Vide Secret.
- That which renders a matter sure; an instrument which renders certain the performance of a contract. The term is also sometimes applied to designate a person who becomes the surety for another, or who engages himself for the performance of another's contract. See 3 Blackf. R. 431.