Forestaller

Full definition of forestaller

Noun

1. A person who forestalls, especially one who buys goods before they can be sold on the open market in anticipation of rising prices

Usage notes

For at least a period of time in the late-18th century, under English Royal law, forestaller had a more narrow meaning which included the concept of not selling again in the same market within three months. By this de jure restriction, legislation attempted to distinguish between a socially useful function (storing grain for a potential future dearth) and an alleged socially harmful function of buying up grain so as to increase the price to the poor or needy by facilitating a so-called excess profit to the intermediary.