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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 ?
Engineer Muhammad Naeem said water would be crucial problem in coming years in Pakistan human being`s survival could at risk if we did not put hands together to conserve and save water.
Therefore, we all should put hands together for uplift of the country and should not resort to mere political point scoring, he added.
ABOUT a year ago, I wrote an article in Arab News titled "A Muslim in a Church and a Jew in a Mosque." In the article I gave three real life examples of how people from different faiths can easily communicate and put hands together. And there are many examples that we see and hear about every day where many people from different faiths and religions have lived side by side and helped each other in time of need.