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.

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.
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.
* Financial risk may manifest itself through adverse interest rate, currency, or market movements that interact with tax positions to make their outcome uncertain.
Every adverse interest is not necessarily a substantial adverse interest.
There are two broad categories of conflicts that can arise--first, conflicts that arise by reason of representation of another client ("client conflicts"), and, second, those that arise between the client and the personal or business interests of the lawyer ("adverse interest conflicts").
1994) (same); see also infra note 198 (asserting that negligence meets the adverse interest requirement in the adverse domination context).
The rise in interest rates over the course of recent months was cited by business contacts as a potential source of restraint on interest-sensitive expenditures, but thus far relatively few contacts had reported actual examples of adverse interest rate effects on spending.
Thus, a real estate agent must prove that prior to undertaking to act either as a dual agent or for an adverse interest, the agent made full end complete disclosure to all parties.
According to the AICPA Code of Professional Conduct (the Code) (see paragraph .02 of Interpretation 1.110.010), "[a] conflict of interest creates adverse interest and self-interest threats to the member's compliance with the 'Integrity and Objectivity Rule'([see ET [section]]1.100.001)." In this scenario, the CPA provided services to the optometry practice and both doctors.
Takeaways of the seminar included the coordination among regulator and market participants, active foreign exchange dealers association, application of basic derivative product structures for proper hedging against adverse interest and exchange rate movement and moving ahead capitalizing on the experience of neighboring markets.
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.
Seven conflict categories pose potential ethical risks: adverse interest, advocacy threats, familiarity threats, management participation threats, self-interest threats, self-review threats, and undue influence threats.