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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.
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The expert went on to add that a joint fight against this policy by four countries - Azerbaijan, Georgia, Iran and Turkey, against which Armenia puts forward territorial claims.
China never puts forward any political demands when it gives loans, Ambassador of China to Kyrgyzstan Xiao Qinghua told reporters on May 23 commenting on statements of some Kyrgyz MPs, who claim that China will demand lands in exchange for money it gave.
The program is unique in that it puts forward 15 cases of different families from the heart of the Jordanian community that are brought together by their struggle against lifeAAEs difficulties and social and material circumstances.