self-dealing

self-dealing
n.
A fiduciary’s use of property or funds entrusted to him or her for personal benefit, such as a trustee’s using trust property for himself or herself.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


self-dealing
Taking part in a transaction or business deal that benefits oneself rather than a person or company to whom one owes a fiduciary duty. For instance, a director of a corporation owes a duty to the corporation not to engage in transactions that benefit the director rather than the corporation. Self-dealing can also apply to owners of a partnership or limited liability company who do not inform their co-owners of business opportunities that should belong to the company.
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.


self-dealing
n. Participating in a transaction for one's own personal benefit rather than for the one owed a fiduciary duty; for example, a trustee using property held in trust for her own benefit. Many states have laws prohibiting such action, and there are federal statutes that do so under certain circumstances.

Webster's New World Law Dictionary. . 2000.


self-dealing
The conduct of a trustee, an attorney, or other fiduciary that consists of taking advantage of his or her position in a transaction and acting for his or her own interests rather than for the interests of the beneficiaries of the trust or the interests of his or her clients.

Dictionary from West's Encyclopedia of American Law. 2005.


self-dealing
The conduct of a trustee, an attorney, or other fiduciary that consists of taking advantage of his or her position in a transaction and acting for his or her own interests rather than for the interests of the beneficiaries of the trust or the interests of his or her clients.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

self-dealing
n.
   in the stock market, using secret "inside" information gained by being an official of a corporation (or from such an officer) to buy or sell stock (or real property wanted by the corporation) before the information becomes public (like a merger, poor profit report, striking oil). Self-dealing can also apply to general partners of a limited partnership who do not inform limited partners of business opportunities which should belong to the partnership. Self-dealing can result in a lawsuit for fraud by shareholders. Self-dealing with securities is a crime under the federal Securities and Exchange Act.

Law dictionary. . 2013.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • self-dealing — ˌself ˈdealing noun [uncountable] FINANCE when someone working for a company uses their influence or knowledge illegally to gain a personal advantage: • The director was engaged in self dealing in a real estate project to the benefit of his… …   Financial and business terms

  • self–dealing — self–deal·ing / self dē liŋ/ n: engagement in a transaction that is intended primarily to benefit one s self or the narrow interests of a few (as corporate insiders) rather than those to whom one owes a duty by virtue of one s position… …   Law dictionary

  • Self-dealing — trustee, an attorney, a corporate officer, or other fiduciary that consists of taking advantage of his position in a transaction and acting for his own interests rather than for the interests of the beneficiaries of the trust, corporate… …   Wikipedia

  • self-dealing —    In the stock market, using inside information (not available to the public) that is gained by being an officer of a corporation (or from such an officer) to profit from buying or selling shares before the information (e.g., merger plans, poor… …   Business law dictionary

  • Self-Dealing — A situation in which a fiduciary acts in his own best interest in a transaction rather than in the best interest of his clients. A fiduciary is legally obligated to act in the best interest of his clients. If he breaches this obligation, the… …   Investment dictionary

  • self-dealing — /self dee ling/, n. financial transaction conducted on a personal, nonbusinesslike basis, as lending or borrowing of corporate money by a director. [1935 40] * * * …   Universalium

  • self-dealing — ˈ ̷ ̷ ˈ ̷ ̷  ̷ ̷ noun : financial dealing that is not at arm s length ; especially : borrowing from or lending to a company by a controlling individual primarily to his own advantage * * * /self dee ling/, n. financial transaction conducted on a… …   Useful english dictionary

  • self-dealing — noun Date: 1940 financial dealing that is not at arm s length; especially borrowing from or lending to a company by a controlling individual primarily to the individual s own advantage …   New Collegiate Dictionary

  • self-dealing — Exists where person in fiduciary or confidential relationship uses property of another for his own personal benefit. For example, where a trustee, acting for himself and also as trustee, a relation which demands strict fidelity to others, seeks… …   Black's law dictionary

  • SELF-DEFENSE — (in modern Jewish history). Jewish efforts against attacking mobs in Russia and in Austria Hungary from the end of the 19th century until shortly after World War I. The nature of the pogroms in this period (especially in the years 1881–82,… …   Encyclopedia of Judaism

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”