Good Books

3. A wishing; a wish. [Obs.] Bp.
Hall.

4. (Ch. of Eng.) A right formerly
belonging to an archbishop to select any one dignity or benefice in
the gift of a suffragan bishop consecrated or confirmed by him, for
bestowal by himself when next vacant; -- annulled by Parliament in
1845.

5. (Stock Exchange) A stipulated
privilege, given to a party in a time contract, of demanding its
fulfillment on any day within a specified limit.

Buyer's option, an option allowed to one who
contracts to buy stocks at a certain future date and at a certain
price, to demand the delivery of the stock (giving one day's notice)
at any previous time at the market price. -- Seller's
option, an option allowed to one who contracts to
deliver stock art a certain price on a certain future date, to
deliver it (giving one day's notice) at any previous time at the
market price. Such options are privileges for which a consideration
is paid. -- Local option. See under
Local.

Syn.


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