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LSDefine

Simple English definitions for legal terms

forestaller

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A quick definition of forestaller:

A forestaller is a person who tries to prevent something from happening or intercepts something. In the past, it also referred to someone who bought goods to resell them at a higher price, which was considered a crime. This was because it caused prices to go up in many places, even though it helped allocate scarce goods to where they were most needed.

A more thorough explanation:

Definition: A forestaller is a person who engages in the act of forestalling, which can refer to several actions:

  1. Preventing an event or result from happening
  2. Intercepting or obstructing a person on a royal highway (historical usage)
  3. Preventing a tenant from entering a property (historical usage)
  4. Intercepting a deer reentering a forest (historical usage)
  5. Buying goods for the purpose of reselling them at a higher price (historical usage)

Historically, forestalling was considered an indictable offense, particularly in the case of buying goods for the purpose of reselling them at a higher price. This was seen as a restraint of trade, as it resulted in higher prices for goods in many parts of the country.

For example, a forestaller might bid against a traditional buyer in a smaller town, obtain grain, and then resell it in a larger town where it could command a higher price. This practice did not harm allocative efficiency, as it effectively reallocated scarce goods to their most highly valued uses. However, it was still considered objectionable and prohibited.

forestall | forestalling the market

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JumpySubsequentDolphin
20:50
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yo splitterus are you in school already
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JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
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JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
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JumpySubsequentDolphin
21:34
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JumpySubsequentDolphin
21:35
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21:35
he has since moved
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i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
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people were getting excited :sob:
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22:39
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JumpySubsequentDolphin
22:45
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