Cover

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Cover

To protect or shelter; to make good; to insure. To cover a check means to deposit sufficient funds in a bank account to pay the amount written on a check or checks.

The right of a purchaser to buy goods other than those that were originally contracted for as a remedy in the event of a breach of contract by the seller.

In contract law concerning sales transactions, the Uniform Commercial Code provides that a buyer may use cover for protection in an action for breach of a sales contract. The person may, in Good Faith, purchase substitute goods when a seller violates their contract by failure to deliver goods. The buyer may then recover the difference between the original goods or contract price and the cost of cover.

References in periodicals archive ?
We examine two ways for framing a partially covered position. The first frame consists of a fully covered position for 1.25 shares and a naked (short) position for the remaining 1.25 calls.
Covered positions: The five most highly paid employees earning in excess of $1 million in the current year or in any prior year beginning after Dec.
Department of Transportation required only a 5-panel drug test for pre-employment, random, post-accident, and reasonable suspicion for DOT covered positions, however, these additional drugs will enhance the 5-panel drug test and will now be commonly referred to in the drug testing industry as a 5-panel plus expanded opioids drug test.
Agencies must apply the occupational series to covered positions by March 2016.
oil for August delivery rose about 0.5 percent to $105.10 a barrel, bolstered by fears of escalating tension in the Middle East and as traders covered positions ahead of the contract's expiration later on Tuesday.