Quote Law and Legal Definition

Quote is the highest bid to buy and the lowest offer to sell something in a given market at a given time. The stock quote refers to the prices themselves, rather than the difference between them.

For instance, if one ask a financial advisor for a "quote" on a stock, he or she may come back with something like "45 1/4 to 45 1/2." This means that $45.25 is the highest price any buyer wanted to pay at the time the quote was given on the floor of the exchange and that $45.50 was the lowest price that any seller would take at the same time.