lot

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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 ?
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.
The lot in question is 50 by 100 feet, located in Manhattan on Amsterdam Avenue at 152nd Street.
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.