Derivative

Definition - adj
1  : arising out of or dependent on the existence of something else
compare direct
2  : of, relating to, or being a derivative <a ~ transaction>

Definition - Noun
: a contract or security that derives its value from that of an underlying asset (as another security) or from the value of a rate (as of interest or currency exchange) or index of asset value (as a stock index)
Derivatives often take the form of customized contracts transacted outside of security exchanges, while other contracts, such as standard index options and futures, are openly traded on such exchanges. Derivatives often involve a forward contract.
Pronunciationd&-'ri-v&-tiv

Pronunciation Key

  • \&\ as a and u in a b ut
  • \[^&]\ as e in kitt en
  • \&r\ as ur and er in f urther
  • \a\ as a inash
  • \A\ as a in ace
  • \Š\ as o in m op
  • \au\ as ou in ou t
  • \ch\ as ch in ch in
  • \e\ as e in bet
  • \E\ as ea in easy
  • \g\ as g in go
  • \i\ as i in hit
    		•
  • \I\ as i in ice
  • \j\ as j in job
  • \[ng]\ as ng in sing
  • \O\ as o in go
  • \o\ as aw in law
  • \oi\ as oy in boy
  • \th\ as th in thin
  • \[th_]\ as thin the
  • \Ÿ\ as oo in loot
  • \u\ as oo in foot
  • \y\ as y in yet
  • \zh\ as si in vision
    		•


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    Based on Merriam-Webster's Dictionary of Law ©2001.
    Merriam-Webster, Incorporated
    Published under license with Merriam-Webster, Incorporated.
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    collateral estoppel

    estoppel by judgment barring the relitigation of issues litigated by the same parties on a different cause of action


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