abandon

(redirected from abandoning ship)
Also found in: Dictionary, Thesaurus, Legal, Idioms, Encyclopedia.

Abandon

1. To decide not to exercise an option. This occurs when an option is out-of-the-money on the exercise date. That is, one may abandon an option if it is currently unprofitable and thus highly unlikely to become profitable.

2. To withdraw one's claim to an asset, especially an unprofitable one. Corporations must file appropriate paperwork with the government to abandon assets. Alternatively, an individual may abandon both real and personal property. For example, a homeowner may leave his/her house and never intend to return. A squatter may then come to possess the home through adverse possession. An important component of abandonment is the owner's intent never to return or otherwise possess the property again.

3. To opt out of a forward contract according to the procedure specified therein. When one abandons a forward contract, one does not buy or sell the underlying asset and it is not delivered.

abandon

To elect not to exercise an option.
References in periodicals archive ?
htm) facing trial on charges of multiple manslaughter, causing a shipwreck and abandoning ship, had previously said he had dreamt of sailing again.
The former Pompey manager (above) was vilified by some fans for abandoning ship last October as Portsmouth slid into financial chaos.
Schettino faces possible charges of manslaughter, causing a shipwreck and abandoning ship.
Even as they were abandoning ship they thought it would be saved and were surprised when they reached land to hear it had been lost.
But I'd like to know if the company delayed abandoning ship in order to try to make it into port to avoid the compensation triggered by using lifeboats," said a retired teacher Francesca Scarramuzzi.
The vessel struck rocks off the Western Isles and the desperate crew were seconds away from abandoning ship when a coastguard helicopter arrived and airlifted them one by one to safety.
Schettino is currently under house arrest and is facing charges of causing a shipwreck, abandoning ship and multiple counts of manslaughter after crashing his 1,000ft vessel into a rocky Island.
Meanwhile, Schettino is under house arrest and is facing charges of causing a shipwreck, abandoning ship and multiple counts of manslaughter after crashing his 1,000ft vessel into a rocky Island.