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Simple English definitions for legal terms
long
Read a random definition: universal legatee
A quick definition of long:
Long means holding onto something like a stock or item because you think the price will go up. It's like waiting for a toy to become more popular before selling it. When you have a long position, it means you're expecting the value to increase. The opposite of long is short, which means you're expecting the value to decrease.
A more thorough explanation:
Definition: Long, as an adjective, refers to holding a security or commodity with the expectation that its price will increase. As a noun, it refers to a purchase of securities or commodities in anticipation of rising prices. Long is the opposite of short.
Example 1: A buyer who is long on pharmaceutical stock is holding the stock with the expectation that its price will increase.
Example 2: John took a long position in gold futures, hoping to profit from the expected rise in gold prices.
Both examples illustrate the concept of being long, which means holding a security or commodity with the expectation of a price increase. In the first example, the buyer is holding pharmaceutical stock with the expectation that its price will rise. In the second example, John is taking a long position in gold futures, which means he is buying the futures contract with the expectation that the price of gold will rise, allowing him to sell the contract at a profit.