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Simple English definitions for legal terms
either-or order
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A quick definition of either-or order:
An order is a command or instruction given by a court or government agency. It can be a final decision or a temporary one that relates to a specific matter in a case. There are different types of orders, such as a filiation order that determines paternity, a support order that directs payment for child support, or a restraining order that prohibits certain actions. In the stock market, an order is an investor's instruction to buy or sell securities at a specific price or time.A more thorough explanation:
Definition: An order to buy a security by either of two alternatives.
Example: An investor places an either-or order to buy a stock at a limited price or buy on a stop order.
Explanation: An either-or order gives the investor two options to buy a security. In the example, the investor can choose to buy the stock at a limited price or buy it when the stock reaches a certain stop price. This type of order allows the investor to have more control over their investment strategy.