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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 periodicals archive ?
Members of the public have now put forward ideas to revamp the property in the hope that it can be taken over by the group and turned into a community hub.
The court then received arguments from those who put forward the referendum, as well as those that opposed it.
So, if a proposal was put forward that the public is dissatisfied with the present government and that we demand that a general election be held, with a proviso that if it said that we want out of Europe, then we go if it's passed.
| Staying in the single market and customs union, dubbed Common Market 2.0, put forward by Tory ex-minister Nick Boles and Labour backbencher Stephen Kinnock.
The region's representatives for recognition include the Nithsdale Smokehouse and Galloway Chillies which have been put forward for the'artisan food'category and Glenmuckloch Energy Park in the'conservation and the environment'section.
A call has gone out to Wee County organisations to put forward proposals for funding from the UK Government's City Region Deal.
On that photo, along with Azerbaijan, territorial claims are put forward against Turkey, Iran and Georgia.
"We don't put forward any conditions when we give loans, this is an aid without any political conditions.
Renfrewshire South MSYP Stirling McGee put forward a motion to council that would see young people in the area involved in the development of the personal, social and health education approach in schools.
A PROPOSAL to build petrol stations using social insurance funds to benefit retirees is being put forward this week.
While referring to certain proposals put forward by members of thedelegation, the Governor said, special emphasis is put on promotion of education including the technical training of youth of FATA to enable them to serve the country in a better way.