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TeachMeFinance.com - explain Order
Order -- 1. A request to deliver, sell, receive or purchase goods or services.
2. An instruction, command or direction authoritatively given.
3. A designation of the person to whom a bill of exchange is to be paid, or delivery of goods made, or a bill of lading consigned (A key word which makes a document negotiable.)
4. A rank, class or division of men.
historic definition...
Order -- A written instrument drawn by one person and
addressed to another which directs the payment of money, the
rendering of a service or the delivery of something to the
bearer of the writing.
The commonest forms of orders for the payment of money
are checks and drafts (bills of exchange). Postofrice money
orders and the money orders issued by express companies are
drafts.
When a speculator directs a broker to make a purchase or
sale he is said to have given an order and when the broker
has made the purchase or sale he is said to have executed the
order.
Names of orders employed in speculative operations are buying order (an order directing a purchase), selling order
(an order directing a sale), stop order (an order fixing a point
or price at which a sale or purchase is to be made, usually to
avoid loss, and when given for this purpose it is called a stoploss
order) and cancel order (an order canceling a previous
order).
About the author
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Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".
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Copyright © 2005 by Mark McCracken, All Rights Reserved.
TeachMeFinance.com is an informational website, and should not be used as a
substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any
investment or financial decision.
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