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FINDLAW LEGAL DICTIONARY

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Float

float n

1 : an amount of money represented by checks outstanding and in process of collection
2 : the time between a transaction (as the writing of a check or a purchase on credit) and the actual withdrawal of funds to cover it
vi of a currency
: to find a level in the international exchange market in response to the law of supply and demand and without any restrictive effect of artificial support or control
vt
1 : to place (an issue of securities) on the market
2 : to obtain money for the establishment or development of (an enterprise) by issuing and selling securities
3 : negotiate [ a loan]



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.