A forestaller is someone who attempts to stop or intercept something from happening. Historically, it also described someone who purchased goods to resell them at a higher price, which was seen as a criminal act. This practice led to increased prices in various locations, despite its role in distributing scarce goods to where they were most necessary.
A forestaller is someone who engages in forestalling, which can encompass various actions. These actions include preventing an event or outcome, obstructing someone on a royal highway (in historical context), preventing a tenant from entering a property (in historical context), intercepting a deer reentering a forest (in historical context), and purchasing goods with the intention of reselling them at a higher price (in historical context). In the past, forestalling was deemed a punishable offence, especially when it involved buying goods for the purpose of reselling them at inflated prices. This was viewed as a restriction on trade, leading to higher prices for goods in many regions. For instance, a forestaller might compete against a traditional buyer in a smaller town, acquire grain, and then sell it in a larger town where it could fetch a higher price. While this practice did not harm the allocation of scarce goods to their most valuable uses, it was still considered objectionable and prohibited.
A forestaller is a person who buys goods or products before they reach the market in order to sell them at a higher price, thereby creating an artificial scarcity and driving up prices.
Yes, forestalling is generally considered illegal as it disrupts the normal market forces and can lead to price manipulation and unfair competition.
The legal consequences of forestalling can vary depending on the jurisdiction, but they may include fines, imprisonment, or other penalties as determined by the applicable laws.
To prove forestalling in a legal case, evidence must be presented that demonstrates the intentional purchase of goods before they reach the market with the intention of reselling them at a higher price.
Yes, forestalling can be considered a form of price gouging as it artificially inflates prices by creating a scarcity of goods in the market.
Some jurisdictions may have certain exceptions or limitations to the illegality of forestalling, such as in cases of legitimate business practices or when the goods are purchased for personal use rather than resale.
Yes, forestalling can be considered a form of market manipulation as it distorts the normal supply and demand dynamics and can lead to unfair advantages for certain individuals or entities.
Possible defences against allegations of forestalling may include demonstrating that the goods were purchased for legitimate business purposes or that there was no intention to resell them at a higher price.
Yes, forestalling can be prosecuted as a criminal offense in many jurisdictions, particularly when it involves intentional manipulation of prices or other fraudulent activities.
Yes, victims of forestalling may be able to seek civil remedies such as damages or injunctive relief to prevent further harm or unfair competition resulting from the forestalling activities.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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