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In sales, a parcel or single article that is the subject matter of a separate sale or delivery, irrespective of whether or not it is adequate to perform the contract. In the Securities and commodities market, a specific number of shares or a particular quantity of a commodity specified for trading. In the law of real estate, one of several parcels into which real property is divided.

A lot is ordinarily one of several contiguous pieces of land of which a block is composed. Real property is commonly described in terms of lot and block numbers on recorded maps and plats.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

LOT. Anything on which depends the accidental determination of a right by which we acquire or lose something; or it is that which fortuitously determines what we are to acquire. When it can be certainly known what are our rights, we ought never to resort to a decision by lot; but when it is impossible to tell what actually belong to us, as if an estate is divided into three parts and one part given to each of three persons, the proper way to ascertain each one's part is to draw lots. Wolff, Dr. &c., de la Nat. Sec. 669.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Find a park, a parking lot. I think if you want something bad enough you're gonna' work hard to do it.
Some bicycle parking lots were installed for encourage people to use alternative transportation modes.
'Both strategies getting parking lots regulated directly by the LPC or outsourcing them to private contractors are manageable.
According to data gathered by the Vision for Sofia team, which should be used in the change of the general development plan of the capital, in the parking lot of Tsarigradsko shosse Blvd., on weekdays, there are between 350 and 550 cars at 1350 seats.
That exceeds the 73 acres of Boise Towne Square, Boise Towne Plaza and their parking lots, all operated by General Growth Properties.
There are 253 private parking lots in Sharjah under the supervision of the municipality, he noted, urging the public to report any violation of these regulations.
Taking a proactive approach to your parking lot management will give you a chance to work larger projects into the budget.
"The private parking lots need to established as per the approved designs for the private parking components.
Drivers in parking lots behave badly in other ways, like cutting across empty rows, ignoring signs and talking on smart phones while not noticing that - whoops - they nearly hit a child.
The rules of choosing parking lots are varied, as drivers prefer to choose the parking lot with vacant spaces [24] while the parking lot status changes with time, and consequently drivers often have to cruise for vacant spaces [25].
It is extremely important to make sure all parking lots and walking areas are smooth and free of cracks and debris.
PARKING LOTS AND GARAGES, 2015 Number Area, Number Number of [m.sup.2] of parking parking spaces for spaces persons with special needs Total 251 718 255 31 280 539 Parking lots 219 446 537 22 591 412 Covered garages 16 108 466 3 843 74 Multi-storey 16 163 252 4 846 53 car parks Source: State Statistical Office