Corner

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Corner

For surveying purposes, the designation given to a particular location formed by the intersection of two boundary lines of real property.

The process by which a group of investors or dealers in a particular commodity exploit its market by purchasing it in large quantities and removing it from general sale for a time, thereby dramatically increasing its market price because its limited supply is greatly exceeded by the demand for it. The condition created when a commitment is made to sell at a special time of delivery in the future, a much greater quantity of a commodity than is available in the present market.

This type of commitment is known as a futures contract. Frequently, neither buyer nor seller expects actual delivery of the goods. They are solely speculating on the difference between the contract price and market price on a particular date. The market price is affected by various economic factors. When a corner is created, the demand for the commodity far exceeds its supply, thereby driving up market prices. On the date of delivery, therefore, the market price will exceed the contract price if no additional quantities can be delivered by persons other than the seller who has "cornered" the market. The buyer must then pay the seller, who had a corner on the specified commodity, the amount by which the market price exceeds the contract price. If, however, additional quantities of the commodity are available in the market, the seller incurs financial losses because the market price will be less than the contract price at which the market was "cornered."

The Commodity Futures Trading Commission is the federal regulatory agency charged with the administration of the Commodity Exchange Act (7 U.S.C.A. § 1 et seq.), which is designed to protect all commodity investors from manipulative practices that hinder the free flow of commerce. Anyone who deliberately exploits the commodities market to create a corner may be prosecuted under federal law for commission of a felony, punishable by a fine of not more than $500,000 or imprisonment of not more than five years, or both, plus the costs of prosecution.

References in periodicals archive ?
Festivities and merriment are just around the corner with the Christmas and New Year season, and Kempinski Hotel Ajman has been given another reason to celebrate, as the 2009 World Travel Awards unveiled it's Middle East Winners which saw Kempinski Hotel Ajman awarded Ajman's Leading Hotel.
Federer further said that he feels he is a good shape now and that his best tennis is just around the corner as he now wakes up with 'zero pain', adding that his Dubai Open win is a good start to the season.
With all this activity, it seems like the up cycle is just around the corner.
directly across from Macy's and just around the corner in 212 West 35th St.
Just around the corner, and with minimal frontage, the former Copacabana nightclub had no takers for several years, although it boosted a location directly across the street from the entrance to Barneys New York men's department.
With the heating season just around the corner, it is essential that building owners and managers establish a program to deal with heating system maintenance, fuel oil ordering and fuel oil delivery.
Just around the corner from here at Review Towers there is this new, anything but dull--yet tempting, CorTen facade ...
The next big step, the discovery of the Higgs boson and its role in gravity, may be just around the corner, Oerter writes.
are making this argument, telling supporters victory is just around the corner if they are a bit more patient.

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