Nature of Settlement
Settlement involves the delivery of securities from one party to another. Delivery usually takes place against payment, but some deliveries are made without a corresponding payment (sometimes referred to as a free delivery). Examples of a delivery without payment are the delivery of securities collateral against a loan of securities, and a delivery made pursuant to a margin call.
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“A mob is a society of bodies voluntarily bereaving themselves of reason, and traversing its work. The mob is man voluntarily descending to the nature of the beast.”
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“And thus they give the time, that Nature meant
For peaceful sleep and meditative snores,
To ceaseless din and mindless merriment
And waste of shoes and floors.”
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“A Settlement is above all a place for enthusiasms, a spot to which those who have a passion for the equalization of human joys and opportunities are early attracted.”
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