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 classic literature ?
In the other corner Rivera had been noting suspicious whisperings.
The corner has been mentioned as a wonderful corner for echoes; it had begun to echo so resoundingly to the tread of coming feet, that it seemed as though the very mention of that weary pacing to and fro had set it going.
For, indeed, they were cresting a corner of London which is almost as precipitous as Edinburgh, if not quite so picturesque.
If thou hadst loved me truly thou wouldst not have stood me up in the corner.
Grace turned in her chair, and looked wonderingly into the dim corner of the room.
At first Mary thought that there were no lights at all in the windows, but as she got out of the carriage she saw that one room in a corner upstairs showed a dull glow.
Miss Lavish cannot have told you much about me, for I am not at Windy Corner at all, but here.
The ragged girl retreated and the urchin in the corner drew his legs carefully beneath him.
This bureau stood in the corner, and in the opposite corner, on the table's other flank, was the kitchen - the oil-stove on a dry-goods box, inside of which were dishes and cooking utensils, a shelf on the wall for provisions, and a bucket of water on the floor.
He did not like it, for his sullen mouth twisted into a half-snarl as he went back to his corner.
Well, now, no, I suppose not--not exactly," stammered Matthew, uncomfortably driven into a corner for his precise meaning.
I was lying among a pile of sleeping silks and furs in the corner of a small room in which were several green warriors, and bending over me was an ancient and ugly female.