Ringing Up — Law Dictionary

The Cyclopedic Law Dictionary

Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

Is nothing more or less than the setting off of one trade against anotheiv- a thing which occurs in great cities in mercantile transactions. Payments being made through checks upon bank, credit balances being set off against each other. The closing up of transactions on the board of trade for the purchase and sale of grain, by setting off one trade against another, is necessarily no more illegal or improper than is the setting off of credit balances by merchants through checks on banks. 68

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

A custom among commission merchants and brokers (not unlike the clearing-house system) by which they exchange contracts for sale against contracts for purchase or reciprocally cancel such contracts, adjust differences of price bstween themselves, and surrender margins. See Ward v. Vosburgh (C. C.) 31 Fed. 12; Williar v. Irwin, 30 Fed. Cas. 38; Pardridge v. Cutler, 68 III. App. 573; Samuels v. Oliver, 130 III. 73, 22 N. E. 499.

A Dictionary of Law

William C. Anderson · 1889

This custom, in vogue among brokers and commission merchants, is founded in commercial convenience, and, when not adopted to promote a gambling transaction, is lawful.*