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 ?
New Delhi [India] Feb 10 ( ANI ): Valentine's Day, arguably the most starry-eyed day of the year, is round the corner.
I live round the corner so when the school was closing I got involved.
I would also point out that just up the road from the shop concerned is a club in converted houses which has had a drinks licence for a number of years, and round the corner again in Bournville Lane is the Cadbury's club which also has a drinks licence.
I extended my hand, Marr took it and, as I went to speak, Liam bowled round the corner having clearly been talking to Marr.
With the four- Test series against England round the corner, I also feel that the matches will provide good training ground for the top stars as they have been playing the shortest format mostly -- barring Ishant," he told M AIL T ODAY .
HELP is round the corner for a village hall thanks to a golden gift from a world-famous guitarist.
Summary: Akshaya Tritiya is round the corner and Malabar Gold & Diamonds choose to celebrate this festival with their customers by offering them assured gift coins with their ravishing collection of gold and diamond jewellery.
And the same can be said of the world of music as far as Jools Holland's enduring show goes - chances are you won't like everything on offer, but there's bound to be something cool and tasty just round the corner to tickle your fancy.
Regarding the vehicle actuated signs, the one already in place at Healey House bend, is so bright and distracting on a dark night it's a wonder anybody makes it round the corner.
Often what's round the corner is just sadness and disappointment," added Zainab.
Willie O'Connor's puppy will need a little luck early if he is to get round the corner from this draw, with Archaton Hawk, Mountaylor Ace and Express Trend on his inner.
We just don't know what is round the corner," he said.