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.

See: border, edge, monopolize, perplex, plight, predicament, stand
References in periodicals archive ?
Her dad Stephen, 46, said: "We went to all the usual houses around the corner and there was no sign of her.
City leaders insist this is no big deal, as Hanover will acquire the parcels created by the mall's demolition, which is now scheduled for right around the corner.
Known as the spacebar, the new eatery receives daily deliveries from Sidney's around the Corner.
After losing a chance to buy the place next door to the original ODC/San Francisco eight years ago, word came of a new space on the market, a former mattress factory right around the corner.
With back-to-school around the corner, Kendall needed a way to organize and store all her stuff.
are making this argument, telling supporters victory is just around the corner if they are a bit more patient.
A charming and wonderful story about how new friends could be just around the corner.
Written especially for the baby boom generation, Just Around the Corner offers step-by-step instructions for identifying one's life goals and values, and incorporating these into one's career with due consideration for one's skills, styles, and advice for coping with dilemmas.
Athough he later developed genuine talent as a writer, and earned a three-column obituary in The New York Times, at that time I would not have trusted him around the corner or anywhere else for that matter.
Another huge challenge was getting the mural to wrap around the corner onto the second wall without looking interrupted.
I went to the bottom of the stairs and peered around the corner, hoping my two brothers wouldn't see.
He'd heard about Emmett Till, the 14-year-old black boy who had been murdered just around the corner from Greenwood in 1955 for being fresh to a white woman.