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Simple English definitions for legal terms
market quotation
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A quick definition of market quotation:
A market quotation is the current price at which a stock or commodity is being traded. It's like the price tag on an item in a store. It tells you how much you would have to pay to buy that particular stock or commodity at that moment. It can also refer to an estimate given by a contractor for a job they will do.
A more thorough explanation:
A market quotation is a statement that provides the current price at which a security or commodity is trading. It is also known as a quotation. This statement is exactly reproduced, attributed, and cited.
For example, if you want to know the current price of a share of Apple stock, you can look up its market quotation. Let's say the market quotation for Apple stock is $150. This means that if you want to buy one share of Apple stock, you will have to pay $150.
Another example of a market quotation is a contractor's estimate for a given job. This is sometimes shortened to quote. For instance, if you want to renovate your kitchen, you can ask a contractor for a market quotation. The contractor will provide you with an estimate of how much the job will cost.
These examples illustrate how a market quotation provides the current price or estimate for a particular item or service. It helps buyers and sellers make informed decisions about buying or selling a security, commodity, or service.