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A lawyer is a person who writes a 10,000-word document and calls it a 'brief'.
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Legal Definitions - round lot
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Definition of round lot
A round lot is a specific number of shares or a specific quantity of a commodity designated for trading. It is the established unit of trading for stocks and bonds.
- A round lot of stock is usually 100 shares.
- A round lot of bonds is usually $1,000 or $5,000 par value.
For example, if an investor wants to buy or sell a stock, they must do so in multiples of 100 shares, which is a round lot. If they want to buy or sell a bond, they must do so in multiples of $1,000 or $5,000, which is also a round lot.
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Simple Definition
A round lot is a specific number of shares or a specific quantity of a commodity that is designated for trading. It is the established unit of trading for stocks and bonds. A round lot of stock is usually 100 shares, and a round lot of bonds is usually $1,000 or $5,000 par value. An odd lot is a number of shares of stock or the value of a bond that is less than a round lot.
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