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Allotment

ALLOTMENT from O. Fr. a and loter, 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 HOLDINOS). 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 L. 5 or over, and a pennystamp if less than L. 5. (See COMPANY.)

Allotment note is a writing by a seaman authorising 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.

Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)

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