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1. a direction of the court on a matter incident to the main
proceeding that adjudicates a preliminary point or directs some step in the proceeding. If an order
closes the matter and precludes future hearing and investigation, it is a FINAL ORDER; but an order that does not completely
dispose of the subject matter of the controversy and settle the rights of the
parties is not final. A final order is an appealable order.
See interlocutory. 2. In the securities trade, an instruction to buy or sell a specified security under specified conditions. The most common type of order is a MARKET ORDER which is specified as to volume with price determined by the market level at the time of sale. Instructions can include a limit as to price to be paid or received (LIMIT ORDER) and a limit as to the time the bid or offer is available. If the order is for the day only, it is a DAY ORDER; if it is GOOD UNTIL CANCELED, it is a standing order called a GTC.
ORDER PAPER: see order paper.
Source: Barron's Dictionary of Legal Terms, Steven H. Gifis, 5th Edition; © 2016