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LSDefine
Simple English definitions for legal terms
cross
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A quick definition of cross:
Term: CROSS
Definition: Cross can mean two things. First, it can refer to cross-examination, which is when a lawyer asks questions to a witness in court to test their credibility or to get more information. Second, it can refer to a type of stock sale that happens between two private parties instead of on the stock exchange. This type of sale usually needs permission from the exchange.
A more thorough explanation:
Definition: Cross can have two meanings:
- Cross-examination: This is when a lawyer questions a witness from the opposing side in a court case to challenge their testimony or credibility.
- Cross sale: This is when a large amount of publicly traded stock is sold between two private parties, with exchange permission required.
Example: During the trial, the defense attorney conducted a thorough cross-examination of the prosecution's key witness to try and poke holes in their story.
Example: The billionaire investor made a cross sale of 10 million shares of a tech company's stock to another wealthy individual.
The first example illustrates the use of "cross" in the context of cross-examination, where a lawyer is questioning a witness from the opposing side in a court case. The second example illustrates the use of "cross" in the context of a cross sale, where a large amount of publicly traded stock is sold between two private parties with exchange permission required.