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Legal Definitions - board lot
The life of the law has not been logic; it has been experience.
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Definition of board lot
A board lot is a specific number of shares or a specific quantity of a commodity designated for trading. It is also known as an even lot or a round lot.
- A round lot of stock is usually 100 shares.
- A round lot of bonds is usually $1,000 or $5,000 par value.
These examples illustrate that a board lot is a specific unit of trading for stocks and bonds. It is the established minimum amount that can be bought or sold in a single transaction.
If we desire respect for the law, we must first make the law respectable.
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Simple Definition
A board lot is a specific number of shares or a specific quantity of a commodity that is designated for trading. It is the established unit of trading for stocks and bonds. A round lot of stock is usually 100 shares, and a round lot of bonds is usually $1,000 or $5,000 par value. An odd lot is a number of shares of stock or the value of a bond that is less than a round lot.
I feel like I'm in a constant state of 'motion to compel' more sleep.
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