Situation in which a company is producing a high quantity of goods at the lowest possible cost per unit.

On this date, payment is necessary for reservation purposes.

A buyer of options who has yet to exercise or sell an option.

The amount a buyer pays and seller receives for granting the right to an option for a specified period of time.

The price to be paid by an investor for an option contract, based upon the security of the underlying asset and the time left until the option expires.

A trader who sells call options or put options, and must perform as instructed by the option buyer.

The simultaneous buying and selling of multiple options on the same underlying asset.

In a contract, this clause allows the buyer, obligor or a lessee to renew a concluded contract for another term.

Bill of lading that allows a shipment to be discharged in multiple parts at multiple locations.

A dividend that may be paid to a shareholder in the form of cash or additional shares.

The different ways in which a policy can pay out to a beneficiary.

An insurance contract that can be terminated by the insurer only on its anniversary or its due to date, but at no other point.

The recipient of option rights from an optioner.

The deliverer of option rights to an optionee.

An instruction to buy shares at a set price or lower, or to sell shares at a set price or higher.

A contract term that stipulates any replacement items must be equal to the specified item in all relevant respects.

Term used for second hand items that describes limited scope for negotiation with the buyer.

Statements that are given orally by an attorney, either in defense of a client or to rebut the opposing party?s statements.

Verbal exchange of ideas or information.

A contract agreed verbally, but not in writing, the existence of which can be difficult to prove as a result. If an oral contract can be proven to exist, it may void