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Financial Dictionary

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WARRANT - An official order authorizing a specific act, such as an arrest or the search of someone's home. A written order directing the arrest of a party. A search warrant orders that a specific location be searched for items, which if found, can be used in court as evidence. (2) A long-term option that guarantees the right to purchase a stated number of shares of common stock in a company at a specified (exercise) price.

A writ issued by a justice of the peace or other authorized officer, directed to a constable or other proper person, requiring him to arrest a person therein named, charged with committing some offence, and to bring him before that or some other justice of the peace.

It should regularly be made under the hand and seal of the justice and dated. No warrant ought to be issued except upon the oath or affirmation of a witness charging the defendant with, the offence.

The reprehensible practice of issuing blank warrants which once prevailed in England, was never adopted here.

A bench warrant is a process granted by a court authorizing a proper officer to apprehend and bring before it some on charged with some contempt, crime or misdemeanor.

A search warrant is a process issued by a competent court or officer authorizing an officer therein named or described, to examine a house or other place for the purpose of finding goods which it is alleged have been stolen.

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