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Webster 1913 Edition
Option
Op′tion
,Noun.
[L.
optio
; akin to optare
to choose, wish, optimus
best, and perh. to E. apt
: cf. F. option
.] 1.
The power of choosing; the right of choice or election; an alternative.
There is an
option
left to the United States of America, whether they will be respectable and prosperous, or contemptible and miserable, as a nation. Washington.
2.
The exercise of the power of choice; choice.
Transplantation must proceed from the
option
of the people, else it sounds like an exile. Bacon.
3.
A wishing; a wish.
[Obs.]
Bp. Hall.
4.
(Ch. of Eng.)
A right formerly belonging to an archbishop to select any one dignity or benefice in the gift of a suffragan bishop consecrated or confirmed by him, for bestowal by himself when next vacant; – annulled by Parliament in 1845.
Buyer’s option
, an option allowed to one who contracts to buy stocks at a certain future date and at a certain price, to demand the delivery of the stock (giving one day's notice) at any previous time at the market price.
– Seller's option
, an option allowed to one who contracts to deliver stock art a certain price on a certain future date, to deliver it (giving one day's notice) at any previous time at the market price. Such options are privileges for which a consideration is paid.
– Local option
. See under
Local
.
Syn. – Choice; preference; selection.
Webster 1828 Edition
Option
OP'TION
,Noun.
1.
The power of choosing; the right of choice or election; as the archbishop's option in collating to a vacant benefice.There is an option left to the United States of America, whether they will be respectable and prosperous, or contemptible and miserable, as a nation.
2.
The power of wishing; wish.3.
Choice; election; preference. He ought not to complain of his lot; it was his own option. We leave this to your own option.