self-dealing

self-dealing definition - legal

n

Participating in a transaction for oneÂ’s own personal benefit rather than for the one owed a fiduciary duty; for example, a trustee using property held in trust for her own benefit. Many states have laws prohibiting such action, and there are federal statutes that do so under certain circumstances.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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