Adverse Interest

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Adverse Interest

The legal right or liability of a person called to testify as a witness in a lawsuit that might be lost or impaired if the party who called him or her to testify wins the case.

This interest against the interest of the party calling a witness to the stand makes him or her an adverse or hostile witness. Although usually the party calling a witness to testify cannot impeach that person's credibility, if the person has an adverse interest, the testimony may be discredited by the party who called that witness to the stand.

adverse interest

n. a right or concern that is contrary to the interest or claim of another.

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References in periodicals archive ?

56) The agency principle that shields innocent investors from the adverse interest imputation exception serves as a tool to hold corporations responsible for the actions of their employees and creates an incentive for corporations to carefully choose their highest-ranking officers.

Securities Law--Ninth Circuit Uses Exception to Adverse Exception and Imputes CEO's Scienter to Corporation Under Rule 10b-5--In re ChinaCast Educ. Corp. Sec. Litig., 809 F.3d 471 (9th Cir. 2015)

The following are examples of retained powers, which if held by the settlor alone or in conjunction with another trustee who does not have a substantial adverse interest, will not cause a transfer to be incomplete unless subject to a fixed and ascertainable standard.

A practical guide to trustee selection: a review of the most common tax (and nontax) traps

An intention to sue an employer also creates an adverse interest threat.

The AICPA's new ethics code: a new approach to conflicts of interest

A federal conn in Pennsylvania recognized in pari delicto, but examined whether die adverse interest exception prevented imputation of the wrongdoing.

In pari delicto: does the doctrine protect auditors from liability?

There is a completed gift if the only way that the donor can revoke the gift or change the beneficiaries is with the consent of a person having a substantial adverse interest.

The taxation of gifts

In adverse interest conflicts, damages are sometimes relatively easy to allege since the clients often allege that they would not have entered into the transaction had the lawyers disclosed their own interests.

Conning the IADC Newsletters

Based on this fact, the IRS determined that the remaining trustees did not have a substantial adverse interest to the deceased trustee and that one-third of the value of the trust estate was includible in the deceased trustee's estate as being subject to a general power of appointment under [section]2041.

State income tax planning for the nonresident Floridian: the ING trust

However, if ADR is sufficiently similar to litigation, such as binding arbitration, an adverse interest threat to independence may exist.

Weighing strategies to limit litigation risk

The types of threats faced by members in public practice include adverse interest, advocacy, familiarity, management participation, self-interest, self-review, and undue influence.

Twenty questions about the AICPA's new ethics codification: expanded conceptual approach for professionals in all forms of practice

Potential users of futures on VXTYN could include mortgage-backed securities investors and other large credit managers seeking to hedge against adverse interest rate movements; large bond funds that are naturally long interest rate volatility and are seeking a yield-enhancing mechanism; and hedge funds, volatility arbitrage firms and global macro participants seeking to express their views on forthcoming monetary policy events or to capture mispricing anomalies between cross-asset volatility (e.

CBOE Futures to launch futures on the CBOE/CBOT 10-Year Treasury Note Volatility Index

for measuring the Market Risk of its investment portfolio Market Risk for the Central Bank of Ireland is primarily the risk of losses on its investment portfolio holdings due to adverse interest rate movements ;