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.

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