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 ?
More than half the firms quizzed now know what a stake-holder pension is, compared with just a third who were clued up six months ago.
Bashir, Asad Nisar, and Muhammad Jawed Bilwani outgoing President of SITE Association of Industry while congratulating the newly-elected office bearers said that 'Our prime objective is to improve the infrastructure of SITE area for the present and future needs'.On behalf of Saleem Parekh, the newly-elected President, Ahsan Arshad Ayub, Senior Vice President, SITE Association thanked the members for giving opportunity to serve their Association and pledge to promote the association's role on new lines with the cooperation of all stake-holders.
Office-bearers of the association and stake-holders of the online lottery business from across the state, had gathered in large numbers at Azad Maidan on August 21, to highlight their grievances.
She said the government would evaluate industry's specific proposal that a joint task-force of all relevant stake-holders be established to help overcome the challenges facing Indonesia's gas development.
But after a full day of meetings between stake-holders, supporters and trustees,hopes of cementing the attraction's long-term future appear to be improving.
"The methods SPS pioneered to ensure the voices and concerns of stake-holders are heard and their issues are addressed have assured SPS the status of the first--and only--department-wide business system," said Program Executive Officer Kevin Carroll.
Rather than work with one organization, the AICPA and the Canadian Institute of Chartered Accountants have established the Value Measurement and Reporting Collaborative (VMRC) to allow the various stake-holders from around the world to work together to determine the best methodologies for value measurements and the resulting business reporting.