Definitions (4)
1. Commerce: A confirmed request by one party to another to buy, sell, deliver, or receive goods or services under specified terms and conditions. When accepted by the receiving party, an order becomes a legally binding contract. See also purchase order.
2. Banking: An instrument (such as a check or draft) through which its maker or issuer (drawer) authorizes a bank or other financial institution to pay the stated sum to a named holder (drawee or payee). Such instruments are transferable by endorsement, and thus are negotiable instruments.
3. Law: An authoritative mandate, command, or direction issued by a court under its seal. A final court order is called judgment.
4. Finance: An investor's instructions to a broker or dealer to buy or sell an item in a specified manner. Such orders are of four major types: (1) Limit order, (2) Market order, (3) Open order, and (4) Stop order.
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