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LSDefine

Simple English definitions for legal terms

lot

Read a random definition: judgment notwithstanding the verdict

A quick definition of lot:

A lot is a piece of land that has specific boundaries and is used for a particular purpose. There are different types of lots, such as a minimum lot, which is the smallest size allowed by local laws, and a nonconforming lot, which used to be legal but now violates zoning rules. A lot can also refer to an item that is sold or traded, such as a certain number of shares of stock or a specific amount of a commodity. When trading stocks or bonds, a round lot is the standard unit of trading, usually consisting of 100 shares of stock or $1,000 or $5,000 worth of bonds.

A more thorough explanation:

A lot is a piece of land that has specific boundaries or is used for a particular purpose. For example, a minimum lot is the smallest piece of land allowed by local zoning laws. A nonconforming lot is a piece of land that was previously lawful but now violates a newly adopted or amended zoning ordinance.

Lot can also refer to an article that is the subject of a separate sale, lease, or delivery, even if it is not enough to fulfill the contract. For instance, in trading, a lot is a specific number of shares or a particular quantity of a commodity designated for trading. An odd lot is a number of shares or bond value that is less than a round lot. A round lot is the established unit of trading for stocks and bonds, usually 100 shares or $1,000 or $5,000 par value for bonds.

Examples:

  • A developer bought a lot to build a new housing development.
  • The city's zoning laws require a minimum lot size of 5,000 square feet.
  • John inherited a nonconforming lot from his grandfather, which he cannot develop due to new zoning regulations.
  • The company purchased a lot of 1,000 units of a particular commodity for trading.
  • Emily bought an odd lot of 75 shares of a company's stock.
  • The stock exchange requires a round lot of 100 shares for trading.

These examples illustrate how the term "lot" can refer to a piece of land, a specific quantity of a commodity, or a unit of trading for stocks and bonds.

lost will | lot and scot

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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