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To put into action, practice, or force; to make use of something, such as a right or option.

To exercise dominion over land is to openly indicate absolute possession and control.

To exercise discretion is to choose between doing and not doing something, the decision being based on sound judgment.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
After exercising the options, Dahle will hold 135,000 options in the company and after completion of the share issue, will hold 274,958 shares in the company, including shares to related party.
After exercising the options, Hagen hold 142,000 options and shares in the company and sifter completion of the share issue, will hold 62,104 shares in the company.
There are two possible ways of exercising the options under the agreement.