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Lot

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.

lot

noun parcel, part, piece, piece of ground, plot, portion, small parcel of land, subdivision, tract
Associated concepts: adjacent lots, block, building lot, conniguous lots, partition of lots, vacant lot
See also: assemblage, bulk, conglomeration, entirety, land, lottery, parcel, plight, plot, posture, predetermination, property, quantity, real estate, situation

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.

References in periodicals archive ?
CANOGA PARK -- What could become a turning point for the Orange Line officially opened Wednesday with the new Canoga station and a Park and Ride lot that supporters hope will lead to the line's north-south extension.
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.
The most basic control on development rights is "floor area ratio" (FAR): the amount of floor area allowed on a zoning lot expressed as a multiple of the lot area.
Reproducibility is a common problem facing compounders every time they begin a new lot of the same formulation.
In the first stage of development, 36 lake front lots of about a half-hectare will be on the market in early to mid-July with about 20 to 26 lots to be added by this fall.
Big Lots (NYSE: BIG) is the nation's largest broadline closeout retailer with over 1,400 stores in 47 states.
The lot in question is 50 by 100 feet, located in Manhattan on Amsterdam Avenue at 152nd Street.
Until it happens, we can only try to practice the Golden Rule, and use the utmost care when entering and exiting parking lots.
Key elements of the LoTS include: a term of 60 years; optional redemption after 10 years at 100% of the principal amount plus accrued interest or prior to that period at a make-whole price; the LoTS are subordinated to all senior indebtedness of EPOLP and senior to EPD's common units; EPLOP will have the option to defer payment on LoTS' interest for up to 10 years, in which case, neither EPD or EPOLP will make distributions on its more junior or equal ranking securities.
Like Kennedy, other new residents on the street voiced their hopes of seeing similar homes erected on the remaining lots so the neighborhood can experience a true rebirth.
The owner of Tax Lot 186 in Queens had received a use variance which allowed the construction of a multiplex movie theater on residentially (R-4) zoned land.