lot

noun

1. : a portion of land; specifically : 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) : 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); specifically : 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 : 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