Online Encyclopedia

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

Online Encyclopedia
Originally appearing in Volume V01, Page 699 of the 1911 Encyclopedia Britannica.
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ALLOTMENT (from O. Fr. a and toter, to divide by 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.
End of Article: ALLOTMENT (from O. Fr. a and toter, to divide by lot)
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ALLOTMENTS AND SMALL HOLDINGS

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