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Simple English definitions for legal terms
close
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A quick definition of close:
Close: A word that can mean different things depending on how it's used. As a noun, it can refer to a piece of land that is surrounded by a fence or wall, or it can describe someone's interest in a particular piece of land. It can also refer to the final price of a stock at the end of a day of trading. As a verb, it means to bring something to an end or to finish discussing or negotiating something.
A more thorough explanation:
Noun:
- An enclosed area of land.
- The interest a person has in a specific piece of land, whether it is enclosed or not.
- The final price of a stock at the end of the trading day on an exchange.
Verb:
- To bring something to an end.
- To conclude a discussion or negotiation.
Example:
Noun: The cows were grazing in the close behind the farmhouse.
Noun: He had a close interest in the land because it was where he grew up.
Noun: The stock closed at $50 per share at the end of the trading day.
Verb: The lawyer closed the case after presenting all the evidence.
Verb: We are hoping to close on our new house next month.
The noun definition of "close" refers to an enclosed area of land, such as a field or a yard. The examples illustrate this by mentioning a close where cows are grazing and a close that someone has an interest in. The third example refers to the final price of a stock at the end of the trading day, which is also known as the "closing price." The verb definition of "close" means to bring something to an end or to conclude a discussion or negotiation. The examples illustrate this by mentioning a lawyer closing a case and someone hoping to close on a new house.clog on the equity of redemption | close-connectedness doctrine