Lot

Definition - Noun
1 : a portion of land
specif
: a measured parcel of contiguous land having fixed boundaries and recorded (as on a plat) with the appropriate authority or office (as a registry of deeds)
2 : a single article, a number of units of an article, or a parcel of articles offered as one item (as in an auction sale)
specif
: a parcel or single article under the Uniform Commercial Code which is the subject matter of a separate sale, lease, or delivery whether or not it is sufficient to perform the contract
see also odd lot round lot

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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