Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: O

OPTION REPRICING

When an option is turned into its intrinisic value and it than in the money.

OLIGOPSONY

A market with a few buyers who control the price paid.

OVERLINED

Temporarily paying off all commercial debt creating extra swingline availability.

OVERSOLD

A market with excessive selling for a short period of time.

ORJURER

L. Fr. In old English law. to forswear; to abjure.

ORDINARY DILIGENCE

is that degree of care which men of common prudence generally exercise in their affairs, in the country and the age in which they live. Erie Bank v. Smith. 3 Brewst. (Pa.)

OLCOTT V

Ga- bert. 86 Tex. 121, 23 S. W. 985. Also an overseer, (coadjutor of an executor,) and one who disseises a person of land not to his own use, but to that

OXGANG

In old English law. As much land as an ox could till. Co. Litt. 5a. A measure of land of uncertain quantity. In Scotland, It consisted of thirteen acres. Spel- man.

OBLIGATION

An obligation is a legal duty, by which a person is bound to do or not to do a certain thing. Civ. Code Cal.

OBSOLESCENT

Becoming obsolete; going out of use; not entirely disused, but gradually becoming so.

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