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).
2. 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).
