Also found in: Dictionary, Thesaurus, Medical, Financial, Acronyms, Idioms, Encyclopedia, Wikipedia.


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 ?
I would say that some of the drawbacks to the lot are that there really isn't anywhere within walking distance to buy cold beer.
Pursuant to procedures established after a 1977 amendment to the Zoning Resolution, the zoning lots are merged by having the owners of the two (or more) lots execute a "declaration of zoning lot restrictions" declaring them to be one lot.
If weeks or months have elapsed since the last lot was produced, there are other potential reasons for the new lot to have different properties or to run differently.
In promoting Elliot Lake as a four-season vacation destination, the city is preparing to introduce new seasonal cottage lots to the marketplace this summer.
First I will offer a very brief outline of the drawing's elements that suggest a version of Lot and His Daughters; later I will present argument and documentation to support these suggestions.
One man spent $1,000 for a vacant lot 12 inches wide that divides two buildings in Brooklyn.
The owners of the two lots then filed the appropriate zoning lot merger declaration pursuant to Zoning Resolution [section] 12-10(d).