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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 ?
Wright puts forth the reasoned philosophy and theology that the problem of evil will only be solved by God's creation of a new world, with new heavens and new earth, and redeemed, renewed human beings ruling over it.
The love of horses ties the stories together and one selection even puts forth a theory about our fascination with horses.
In Part Two, Hendricks puts forth seven political strategies that Jesus used, including "Give Voice to the Voiceless" and "Don't Just Explain the Alternative, Show It." Hendricks gives numerous examples of these strategies at work, such as the 1964 March on Washington and the life of Robert Carter III, a colonial aristocrat whose religious experience led him to free more than 500 slaves in 1791.