Put

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Put

An option—a right that operates as a continuing proposal—given in exchange for consideration—something of value—permitting its holder to sell a particular stock or commodity at a fixed price for a stated quantity and within a limited time period.

A put is purchased for a fee paid to the person who agrees to accept the stock or goods if they are offered. The purchaser of this right to sell expects the price of the stock or commodity to decrease so that he can deliver the stock or commodity at a profit. If the price rises, the option need not be exercised. The reverse transaction is a call.

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

TO PUT, pleading. To select, to demand; as, the said C D puts himself upon the country; that is, he selects the trial by jury, as the mode of settling the matter in dispute, and does not rely upon an issue in law. Gould, Pl. c. 6. part 1, Sec. 19.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in classic literature ?
"That's right," said the Pugilist, "that is right, my good friend; if pugilism had been put down yesterday, I wouldn't have this kind of Nose to-day.
Here 'my husband' put down the candle he carried, and with a sidelong look at his guest stooping over his knapsack, gruffly gave him the instruction,
'whether his friends will rally round him.' The legal gentleman, in the interests of his client cannot allow much time for this purpose, as the lady rather thinks she knows somebody prepared to put down six thousand pounds; but he says he will give Veneering four hours.
Besides now, what customs has he put down? There was the good old custom of taking the linchpins out of the farmers' and bagmen's gigs at the fairs, and a cowardly, blackguard custom it was.
Not having a veil to put down over my own face, I stooped and picked up the newspaper.
I put down the mouthful that hesitated upon my lips, and listened.
"So you are not afraid to play with me?" repeated Dolokhov, and as if about to tell a good story he put down the cards, leaned back in his chair, and began deliberately with a smile:
The old chronicles did not weave their history into stories, they simply put down a date and something that happened on that date.
A HORSE had to be put down after a serious crash with a lorry on the A470 in Merthyr Tydfil.
But the 37-year-old is furious that the dog's owner and fellow campaigners have written to the Queen in an effort to overturn a court ruling to have the animal put down.
A horse had to be put down by vets after it was found in a poor condition in Black Country woodland.