Define: Job Lot

Business, Legal & Accounting Glossary

Definition: Job Lot



Advertisement



Full Definition of Job Lot


A job lot refers to a particular contract that deals with smaller trading units than those outlined in a regular contract. This helps to create a market where smaller investors can participate along with the larger traders. A job lot is most commonly associated with the trading of commodity futures. A job lot should not be confused with an off lot, which is related to the trading of stocks. The term job lot also refers to a large quantity of items sold at a low cost. Often a job lot will feature a variety of miscellaneous items to be sold in one large job lot. A job lot is used to quickly reduce the amount of stock of a particular item. A person who buys a job lot from a manufacturer or wholesaler is known as a “jobber.”


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/job-lot/
Modern Language Association (MLA):
Job Lot. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 06, 2020 https://payrollheaven.com/define/job-lot/.
Chicago Manual of Style (CMS):
Job Lot. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/job-lot/ (accessed: April 06, 2020).
American Psychological Association (APA):
Job Lot. PayrollHeaven.com. Retrieved April 06, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/job-lot/

Definition Sources


Definitions for Job Lot are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February, 2020