Lot
/lɒt/
Definitions
- (n.) A defined parcel or tract of land recognized by legal description.
The developer purchased a lot to build new homes.
- (n.) An item or group of items sold or considered as a single unit in an auction or sale.
She won the antique vase in the lot at the auction.
- (n.) The use of chance or drawing to make a choice or decision.
The committee was selected by lot.
Forms
- lots
Related terms
See also
Commentary
In legal contexts, 'lot' often refers specifically to land divisions in property law, but its usage in auctions and decision-making processes is also common.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.