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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 ?
So Sorry charts that course keeping topicality intact and putting across the message effectively.
The Prime Minister appreciated the Minister for Information for effectively disseminating and putting across the caretaker government's point of view to the masses and the role of a bridge that he played between the caretaker government and the media during the interim period.
Putting across Liverpool's side, Comolli said on the club's official website in response to questions sent in by supporters: "I think Raul said it himself with what I've seen recently in the Press.
It was such a "The best part for me was putting across a better image of the WI because I get very, very cross when people just sum it up as jam and Jerusalem.

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