POOL
Categories: Contracts
Definition (1910 Edition)
1. A combination of persons or corporations engaged in the same business, or for the purpose of engaging ina particular business or commercial or speculative venture, where all contribute to a common fund, or place their holdings of a given stock or other security in the hands and control of a managing member or committee, with the object of eliminating competition as hetween the several members of the pool, or of establishing a monopoly or controlling prices or rates by the weight and power of their combined capital, or of raising or depressing
prices on the stock market, or simply with a view to the successful conduct of an enterprise too great for the capital of any member individually, and on an agreement for the division of profits or losses among the fhembers, either equally or pro rata. Also, a
prices on the stock market, or simply with a view to the successful conduct of an enterprise too great for the capital of any member individually, and on an agreement for the division of profits or losses among the fhembers, either equally or pro rata. Also, a
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain.
UK commentary and modern updates are original additions. This entry is for educational
reference only and does not constitute legal advice.