Wash sale
Defined in 2 dictionaries — Ballentine's (1916), Black's (1910)
Ballentine's Law Dictionary
James A. Ballentine · 1916
An affirmation that a buyer is paying a certain price for a certain lot of stock, made to cause persons to buy. See 14 N. Y. St. Rep. 707.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
In the language of the stock exchange, this is the operation performed by a broker who fills an order from one customer to buy a certain stock or cem-modity by simply transferring to him the stork or commodity placed in hls hands (or ordered to be sold) by another customer, Instead of going upon the exchange and executing both buying and selling orders separately and on the best terms obtainable for the respective customers. See McGlynn v. Seymour, 14 N. Y. St. Rep. 709.