spot sales

spot sales
A brokerage term denoting sales contemplating immediate delivery to the purchaser of the commodities or securities purchased. United States v New York Coffee & Sugar Exchange, 263 US 611, 616, 68 L Ed 475, 476, 44 S Ct 225. A term used by grain brokers denoting sales of grain already in the city where the sale is made in railroad cars or elevators for immediate delivery by order on carrier or transfer of warehouse receipt. Board of Trade v United States, 246 US 231, 236, 62 L Ed 683, 686, 38 S Ct 242.

Ballentine's law dictionary. . 1998.

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