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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 ?
Firstly, Table 2 presents the results of the average demand and the parking supply for each parking lot. Also it is possible to observe the percentage of parking lot capacity, which indicates that E5 is an overcrowding parking lot.
The Idaho Business Review posed this theme to a number of downtown adherents: what could, should, needs to be done with all these surface parking lots and what should not be done?
Last year, Sharjah introduced new regulations for its private parking lots, which also covered a unified fee structure.
It's simple, really: People driving in parking lots should drive just as they'd hope others would drive once they've left their cars and become - what's the answer to the quiz?
where [[mu].sub.ijk] is the parking disutility travelling from intersection i, selecting parking lot j, with destination k, [t.sub.ij] is the travel time from intersection i to parking lot j, [d.sub.j] is the perceived waiting time at parking lot j, [f.sub.j] is the fee charged at parking lot j, T is the value of time, [w.sub.jk] is the walking time from parking lot j to destination k, and [a.sub.1], [a.sub.2], [a.sub.3], and [a.sub.4] denote the relative important weighting coefficients of travel time, waiting time, fee charged, and walking time.
Your parking lot should have clear signage directing people where to go, what the flow of traffic should be, and where entrances and exits are.
The acquisitions are comprised of parking garages and surface parking lots.
SDMC officials said the Munirka, Hauz Khas and Kalkaji parking lots will be thrown open by June- end while the underground parking lot at New Friends Colony and Bhogal will become functional by July- end.
The parking lot, at 265 Lincoln St., has been managed by the Department of Public Works and Parks for 11 years.
Muscat: Muscat International Airport will have a new long-stay parking lot that will take up to 140 vehicles.
The parking lot market is an untapped resource for producers nationwide."
The parking lot will be considered paid if there is a relevant sign.