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Simple English definitions for legal terms
Read a random definition: classified risk
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.