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Simple English definitions for legal terms
even lot
Read a random definition: pedis possessio doctrine
A quick definition of even lot:
Even Lot: A term used to describe a round lot in the stock market. A round lot is a group of shares that are bought or sold in multiples of 100. An even lot is a round lot that is divisible by 2, such as 200 or 400 shares.
Event-Driven Audit: A type of audit that is triggered by a specific event, such as a merger or acquisition, rather than being conducted on a regular basis. This type of audit is designed to assess the risks and opportunities associated with the event and to provide recommendations for how to manage them.
Evergreen Contract: A contract that automatically renews at the end of its term unless one of the parties gives notice to terminate it. This type of contract is often used for services that are ongoing, such as software subscriptions or maintenance agreements.
Evict: To force someone to leave a property, usually because they have not paid rent or have violated the terms of their lease. This is done through a legal process and is sometimes called "putting out."
A more thorough explanation:
Definition: A lot of securities that is a multiple of 100 shares, such as 200, 300, or 500 shares. See round lot under LOT(3).
Definition: An audit that is triggered by a specific event, such as a merger or acquisition, rather than being conducted on a regular basis. See audit.
Definition: A contract that is automatically renewed at the end of its term unless one of the parties gives notice to terminate it. See contract.
Definition: To legally force someone, usually a tenant, to leave a property. This can be done through a legal process. For example, if a tenant does not pay rent, the landlord may evict them.
Example: The landlord evicted the tenant for not paying rent for three months.
Explanation: This example illustrates the definition of evict as the landlord legally forced the tenant to leave the property due to non-payment of rent.