Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

lot

Read a random definition: propositus

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
LSD+ is ad-free, with DMs, discounts, case briefs & more.