Stakeholder

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stakeholder

n. a person having in his/her possession (holding) money or property in which he/she has no interest, right or title, awaiting the outcome of a dispute between two or more claimants to the money or property. The stakeholder has a duty to deliver to the owner or owners the money or assets once the right to legal possession is established by judgment or agreement. (See: escrow)

STAKEHOLDER, contracts. A third person, chosen by two or more persons, to keep in deposit property, the right or possession of which is contested between them and to be delivered to the one who shall establish his right to it. Thus each of them is considered as depositing the whole thing. This distinguishes this contract from that which takes place when two or more tenants in common deposit a thing with a bailee. Domat, Lois Civ. liv. 1, t. 7, s. 4; 1 Vern. R. 44, n. 1.
     2. A person having in his hands money or other property claimed by several others, is considered in equity as a stakeholder. 1 Vern. R. 144.
     3. The duties of a stakeholder are to deliver the thing holden by him to the person entitled to it on demand. It is frequently questionable who is entitled to it. In case of an unlawful wager, although be may be justified for delivering the thing to the winner, by the express or implied consent of the loser; 8, John. 147; yet if before the event has happened he has been required by either party to give up the thing deposited with him by such party, he is bound so to deliver it; 3 Taunt. 377; 4 Taunt. 492; or if, after the event has happened, the losing party give notice to the stakeholder not to pay the winner, a payment made to him afterwards will be made in his own wrong, and the party who deposited the money or thing may recover it from the stakeholder. 16 S. & R. 147; 7 T. R. 536; 8 T. R. 575; 4 Taunt. 474; 2 Marsh. 542. See 3 Penna. R. 468; 4 John. 426; 5 Wend. 250; 2 P. A. Browne, 182; 1 Bailey, 486, 503. See Wagers.

References in periodicals archive ?
I would congratulate all key stake holders and players for their great efforts and on this achievement, which they achieved by their sheer determination and honest struggle again under almost same unfavorable circumstances.
Refusal by the two other stake holders to pay their share, however, will not affect BP's commitment to stop the leak, clean up the spill and pay all legitimate claims as quickly as possible, BP said.
A stake holder is ideal for someone like Ian as he can stop, start,increase or reduce payments with no penalties.
And although all employers with five or more staff have to offer a stake holder scheme, they donot, however,have to contribute to it, so take- up has been disappointing.
Therefore,if you have not already done so, you should now take the following action: If you have no pension arrangements in place you should immediately seek advice from an independent financial adviser to designate a stake holder pension scheme for your employees.
Stakeholder pensions, designed to encourage more people to save for retirement, have so far failed to attract as many people as the Government hoped, and many of those who did move their money into a stake holder planhavenow seen much of their investment wiped out by falls of up to40pcin the stock market.
Stakeholder pensions,designed to encourage more people to save for retirement,have so far failed to attract as many people as the Government hoped, and many of those who did move their money into a stake holder plan have now seen much of their investment wiped out by falls of up to 40pc in the stock market.
The participants assured the president that they will try at their utmost level to develop consensus amongst different stake holders of the party and will try to capitalize on the party's vote bank.
Both the institutions will also be responsible for creating awareness in agricultural development, food security and its efficient utilization among stake holders at national level.
In line with Online sources, Head Member of Pakistan Tehreek-e-Insaf (PTI) Central Council and expected candidate from NA82 Zafar Iqbal Sarwar told this scribe that with the cooperation and consultation of stake holders, PTI has prepared Textile Policy.
Summary: New Delhi [India], Oct 28 (ANI): The Congress party on Saturday lauded Art of Living founder Sri Sri Ravi Shankar's efforts to hold talk with the stake holders of Babri Masjid-Ram Temple issue and act as a 'mediator' between them.
The matter is under examination in consultation with stake holders and modalities are under finalization.