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

Category: O

OPEN BOOK

When liabilities have a shorter maturity date than the assets.

OPEN INTEREST

The number of outstanding futures not accomidated by delivery availability.

OPEN OUTCRY

When floor traders agree on terms by communication or hand signals.

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

OCCUPAVIT

Lat. In old English law. A writ that lay for one who was ejected out of his land or tenement in time of war. Cowell.

OF RECORD

Recorded; entered on the records; existing and remaining in or upon the appropriate records.

OIR

In Spanish law. To hear; to take cognizance. White, New Recop. b. 3, tit 1, c. 7.

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