What is CROSS-SALE? Definition of CROSS-SALE in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
Where a floor broker, holding orders from different customers to buy and sell on the same terms, cries out the transaction and makes the sale and purchase to himself at the price shown by the last sale shown on the exchange, the transaction is called a "cross-sale or trade," and is illegal under rules of exchange, requiring two brokers to every purchase or sale. Cohen v. Rothschild, 182 App.Div. 408, 169 N.Y.S. 659, 664.
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That's the definition of CROSS-SALE in Black's Law Dictionary - Legal dictionary - Glossary of legal terms. Courtesy of Cekhukum.com.
