FLOAT
float,n.1. The sum of money represented by outstanding or uncollected checks.
“ ‘Float’ refers to the artificial balance created due to delays in processing credits and debits
to an account.” In re Cannon, 277 F.3d 838, 843 (6th Cir. 2002).
- The delay between a transaction and the withdrawal of funds to cover the transaction. 3.
The amount of a corporation’s shares that are available for trading on the securities market.
float,vb. 1. (Of a currency) to attain a value in the international exchange market solely on
the basis of supply and demand <the IMF allowed the peso to float>.2. To issue (a security) for
sale on the market <PDQ Corp. floated a new series of preferred shares>.3. To arrange or
negotiate (a loan) <the bank floated a car loan to Alice despite her poor credit history>.[Blacks Law 8th]