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LSDefine

Simple English definitions for legal terms

self-dealing

Read a random definition: merits

A quick definition of self-dealing:

Term: Self-dealing

Definition: Self-dealing is when someone who is supposed to make decisions for a company does things to help themselves instead of helping the company. This is not allowed because it is not fair to the company and the people who own it. It is also not allowed for people to buy or sell stocks using secret information that other people don't know about. This is called insider trading and it is also not allowed. The law says that these kinds of actions are not okay and can have serious consequences.

A more thorough explanation:

Self-dealing is when someone who has a responsibility to act in the best interest of a company or organization instead takes actions that benefit themselves. This can happen when someone with a fiduciary duty, like a board member or executive, makes decisions that benefit themselves instead of the company they represent.

For example, imagine a CEO of a company who decides to award a contract to a company they own, even though there are other companies that could do the job for less money. This would be an example of self-dealing because the CEO is putting their own interests ahead of the company's interests.

Self-dealing can also happen in the stock market. For example, if someone buys or sells stocks based on information that is not yet public, they are using insider knowledge to benefit themselves. This is also considered self-dealing because they are not acting in the best interest of other investors who do not have access to that information.

Self-dealing is not allowed because it can harm the company or organization and the people it serves. It is important for people in positions of power to act with integrity and always put the interests of the company or organization first.

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Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
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