ALLOTMENT (from O. Fr. a and toter, to

See also:

• DIVIDE

divide by

See also:

• LOT
• LOT (Lat. Oltis)

lot)  , the act of allotting; a share or portion assigned . In England, the term denotes a portion of land assigned on partition or under an inclosure award (see COMMONS); also a division of land into small portions for cultivation by a labourer or artisan at a small rent (see ALLOTMENTS AND SMALL HOLDINGS) . In company law, " allotment " is the appropriation to an applicant by a resolution of the directors of a certain number of shares in response to an application . The document sent to such an applicant, which announces the number of shares assigned and concludes the contract, is called a letter of allotment or allotment certificate . A letter of allotment in England requires a sixpenny stamp if the value of the shares amounts to £5 or over, and a penny stamp if less than £5 . (See COMPANY.) Allotment note is a writing by aseaman authorizing his employers to make an allotment of part of his wages, while he is on a voyage, in favour either of a " near " relative (wife, father, mother, grandfather, grandmother, child, grandchild, brother or sister of the seaman), or of a savings bank . Every allotment note must be in a form sanctioned by the Board of Trade .