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 ?
The kick that Greaser's got is something God-awful," Danny gasped in his corner to his adviser while his handlers worked frantically over him.
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.
I saw that you couldn't, and that's the reason I told you to take your seat, and left him in the corner.
But when he had made away with these two, and was about to sit down again by his fire, out from every hole and corner came black cats and black dogs with red-hot chains, and more and more of them came until he could no longer move, and they yelled horribly, and got on his fire, pulled it to pieces, and tried to put it out.
With those words Mercy Merrick shrank back into her corner and changed the subject.
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.
Half-dead with fright, and trembling in every limb, the poor children lay down to sleep on a heap of straw in the corner of the hut; but they dared not close their eyes, and scarcely ventured to breathe.
Then I went to the corner of the enclosure and stared inland at the green bush that had swallowed up Moreau and Montgomery.
Miss Lavish cannot have told you much about me, for I am not at Windy Corner at all, but here.
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.
Well, now, no, I suppose not--not exactly," stammered Matthew, uncomfortably driven into a corner for his precise meaning.